DekaBank Deutsche Girozentrale Sells 11,746 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

DekaBank Deutsche Girozentrale lessened its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 4.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 280,171 shares of the biotechnology company’s stock after selling 11,746 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.15% of BioMarin Pharmaceutical worth $24,714,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Capital Research Global Investors boosted its stake in BioMarin Pharmaceutical by 79.0% during the 4th quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company’s stock valued at $1,038,907,000 after purchasing an additional 4,756,671 shares during the period. Norges Bank bought a new stake in BioMarin Pharmaceutical during the 4th quarter valued at approximately $324,098,000. Avoro Capital Advisors LLC boosted its stake in BioMarin Pharmaceutical by 11.7% during the 4th quarter. Avoro Capital Advisors LLC now owns 4,300,000 shares of the biotechnology company’s stock valued at $414,606,000 after purchasing an additional 450,000 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in BioMarin Pharmaceutical by 33.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,605,983 shares of the biotechnology company’s stock valued at $154,850,000 after purchasing an additional 401,152 shares during the period. Finally, Third Point LLC bought a new stake in BioMarin Pharmaceutical during the 4th quarter valued at approximately $37,122,000. Institutional investors own 98.71% of the company’s stock.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CFO Brian Mueller sold 5,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $75.19, for a total value of $375,950.00. Following the transaction, the chief financial officer now directly owns 72,159 shares in the company, valued at approximately $5,425,635.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Jean Jacques Bienaime sold 20,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $81.62, for a total value of $1,632,400.00. Following the transaction, the director now directly owns 474,994 shares in the company, valued at approximately $38,769,010.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian Mueller sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $75.19, for a total value of $375,950.00. Following the completion of the transaction, the chief financial officer now owns 72,159 shares in the company, valued at $5,425,635.21. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,850 shares of company stock worth $5,052,084. Insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Trading Down 0.5 %

BMRN traded down $0.42 during mid-day trading on Friday, reaching $84.20. The stock had a trading volume of 760,445 shares, compared to its average volume of 1,228,790. The stock has a market capitalization of $15.99 billion, a P/E ratio of 78.69, a P/E/G ratio of 1.20 and a beta of 0.32. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.70 and a current ratio of 2.74. The firm’s fifty day simple moving average is $82.53 and its two-hundred day simple moving average is $85.12. BioMarin Pharmaceutical Inc. has a 52 week low of $73.68 and a 52 week high of $99.56.

Analyst Upgrades and Downgrades

BMRN has been the subject of several recent research reports. Scotiabank upped their price target on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the company a “sector perform” rating in a report on Thursday, April 25th. Wells Fargo & Company upped their price target on BioMarin Pharmaceutical from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Evercore ISI initiated coverage on BioMarin Pharmaceutical in a report on Tuesday, May 14th. They issued an “outperform” rating and a $113.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $110.00 price target on shares of BioMarin Pharmaceutical in a report on Monday, July 22nd. Finally, Robert W. Baird cut BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and cut their price target for the company from $104.00 to $72.00 in a report on Friday, May 17th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.00.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.