Los Angeles Capital Management LLC Has $66.07 Million Stock Position in BioMarin Pharmaceutical Inc. $BMRN

Los Angeles Capital Management LLC decreased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 16.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,111,698 shares of the biotechnology company’s stock after selling 220,700 shares during the period. Los Angeles Capital Management LLC’s holdings in BioMarin Pharmaceutical were worth $66,068,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. New York Life Investment Management LLC acquired a new stake in BioMarin Pharmaceutical during the third quarter valued at $1,071,000. DNB Asset Management AS boosted its position in BioMarin Pharmaceutical by 13.8% during the third quarter. DNB Asset Management AS now owns 1,274,284 shares of the biotechnology company’s stock valued at $69,015,000 after purchasing an additional 154,954 shares during the last quarter. Savant Capital LLC boosted its position in BioMarin Pharmaceutical by 54.4% during the third quarter. Savant Capital LLC now owns 82,827 shares of the biotechnology company’s stock valued at $4,486,000 after purchasing an additional 29,174 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in BioMarin Pharmaceutical by 312.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,419,067 shares of the biotechnology company’s stock valued at $84,335,000 after purchasing an additional 1,074,929 shares during the last quarter. Finally, Braidwell LP acquired a new stake in BioMarin Pharmaceutical during the third quarter valued at $28,596,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $56.77 on Friday. BioMarin Pharmaceutical Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $66.28. The business has a 50-day moving average of $54.27 and a two-hundred day moving average of $56.33. The stock has a market capitalization of $10.97 billion, a P/E ratio of 41.44, a P/E/G ratio of 0.43 and a beta of 0.25. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.81 and a quick ratio of 4.20.

Analysts Set New Price Targets

BMRN has been the subject of a number of research reports. HC Wainwright reduced their price objective on BioMarin Pharmaceutical from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, May 18th. Sanford C. Bernstein reduced their price target on BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. The Goldman Sachs Group initiated coverage on BioMarin Pharmaceutical in a research report on Monday, May 11th. They issued a “neutral” rating and a $69.00 price target for the company. Weiss Ratings raised BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 29th. Finally, Wall Street Zen cut BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $88.67.

Insider Transactions at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 16,486 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total value of $996,743.56. Following the transaction, the executive vice president directly owned 79,953 shares in the company, valued at approximately $4,833,958.38. The trade was a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gregory R. Friberg sold 3,281 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $53.85, for a total value of $176,681.85. Following the completion of the transaction, the executive vice president owned 51,818 shares in the company, valued at $2,790,399.30. The trade was a 5.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.85% of the company’s stock.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.