Dimensional Fund Advisors LP Purchases 481,176 Shares of BioMarin Pharmaceutical Inc. $BMRN

Dimensional Fund Advisors LP grew its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 14.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,802,930 shares of the biotechnology company’s stock after buying an additional 481,176 shares during the quarter. Dimensional Fund Advisors LP’s holdings in BioMarin Pharmaceutical were worth $214,804,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BMRN. Activest Wealth Management bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at approximately $26,000. CIBC Private Wealth Group LLC grew its stake in BioMarin Pharmaceutical by 38.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 179 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter valued at $40,000. V Square Quantitative Management LLC purchased a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at $45,000. Finally, Parallel Advisors LLC raised its stake in shares of BioMarin Pharmaceutical by 62.2% during the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 295 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Up 0.8%

Shares of BMRN opened at $59.33 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 $56.54 and a 200 day moving average of $56.84. The firm has a market cap of $11.47 billion, a P/E ratio of 43.31, a price-to-earnings-growth ratio of 0.45 and a beta of 0.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.20 and a current ratio of 5.81.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Gregory R. Friberg sold 3,281 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, May 7th. The shares were 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. This trade represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.68% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BMRN. UBS Group reissued a “neutral” rating on shares of BioMarin Pharmaceutical in a report on Tuesday, July 14th. Canaccord Genuity Group lowered their price objective on shares of BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. The Goldman Sachs Group assumed coverage on shares of BioMarin Pharmaceutical in a research note on Monday, May 11th. They issued a “neutral” rating and a $69.00 target price on the stock. Bank of America reduced their target price on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Finally, Royal Bank Of Canada decreased their price target on shares of BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.26.

BioMarin Pharmaceutical Company Profile

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.