BioMarin Pharmaceutical Inc. $BMRN Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. grew its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 53.6% during the 4th quarter, Holdings Channel reports. The fund owned 937,356 shares of the biotechnology company’s stock after buying an additional 327,204 shares during the quarter. Pacer Advisors Inc.’s holdings in BioMarin Pharmaceutical were worth $55,707,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in BMRN. CIBC Private Wealth Group LLC raised its holdings in BioMarin Pharmaceutical by 38.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 179 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its holdings in BioMarin Pharmaceutical by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 42,982 shares of the biotechnology company’s stock valued at $2,554,000 after purchasing an additional 183 shares in the last quarter. Nisa Investment Advisors LLC increased its position in BioMarin Pharmaceutical by 7.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,741 shares of the biotechnology company’s stock worth $163,000 after purchasing an additional 195 shares during the period. EverSource Wealth Advisors LLC increased its position in BioMarin Pharmaceutical by 3.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 7,151 shares of the biotechnology company’s stock worth $387,000 after purchasing an additional 235 shares during the period. Finally, Davis Investment Partners LLC raised its stake in shares of BioMarin Pharmaceutical by 3.1% during the 4th quarter. Davis Investment Partners LLC now owns 8,031 shares of the biotechnology company’s stock worth $477,000 after buying an additional 243 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $54.69 on Friday. The company has a quick ratio of 4.20, a current ratio of 5.81 and a debt-to-equity ratio of 0.23. 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 fifty day moving average of $54.24 and a 200-day moving average of $56.40. The stock has a market cap of $10.57 billion, a price-to-earnings ratio of 39.92, a price-to-earnings-growth ratio of 0.42 and a beta of 0.25.

Wall Street Analyst Weigh In

Several research firms have recently commented on BMRN. Truist Financial raised BioMarin Pharmaceutical to a “strong-buy” rating in a report on Wednesday, March 25th. The Goldman Sachs Group began coverage on BioMarin Pharmaceutical in a research report on Monday, May 11th. They issued a “neutral” rating and a $69.00 price objective for the company. Jefferies Financial Group reissued a “buy” rating and issued a $103.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, March 12th. Bank of America decreased their target price on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $66.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.67.

Insider Buying and Selling

In related news, 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 transaction of $176,681.85. Following the completion of the sale, the executive vice president owned 51,818 shares in the company, valued at approximately $2,790,399.30. This trade represents a 5.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate 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.