J. Safra Sarasin Holding AG Buys 12,859 Shares of BioMarin Pharmaceutical Inc. $BMRN

J. Safra Sarasin Holding AG raised its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 41.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,719 shares of the biotechnology company’s stock after purchasing an additional 12,859 shares during the period. J. Safra Sarasin Holding AG’s holdings in BioMarin Pharmaceutical were worth $2,470,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BMRN. Citizens Financial Group Inc. RI purchased a new stake in BioMarin Pharmaceutical during the first quarter valued at about $278,000. Fifth Third Bancorp boosted its stake in shares of BioMarin Pharmaceutical by 7,695.9% during the 1st quarter. Fifth Third Bancorp now owns 62,991 shares of the biotechnology company’s stock valued at $3,558,000 after purchasing an additional 62,183 shares in the last quarter. Torray Investment Partners LLC bought a new position in shares of BioMarin Pharmaceutical in the 1st quarter worth approximately $4,416,000. Sequoia Financial Advisors LLC raised its holdings in BioMarin Pharmaceutical by 79.0% in the first quarter. Sequoia Financial Advisors LLC now owns 7,491 shares of the biotechnology company’s stock worth $423,000 after purchasing an additional 3,307 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in BioMarin Pharmaceutical by 4.3% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 12,200 shares of the biotechnology company’s stock valued at $689,000 after acquiring an additional 500 shares during the period. 98.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, EVP Gregory R. Friberg sold 3,281 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $53.85, for a total value of $176,681.85. Following the transaction, the executive vice president directly owned 51,818 shares of the company’s stock, valued at $2,790,399.30. This represents a 5.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN opened at $59.20 on Tuesday. The company has a quick ratio of 4.20, a current ratio of 5.81 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $11.44 billion, a price-to-earnings ratio of 43.21, a price-to-earnings-growth ratio of 0.45 and a beta of 0.24. BioMarin Pharmaceutical Inc. has a 52 week low of $49.26 and a 52 week high of $66.28. The firm has a 50 day moving average of $55.50 and a 200 day moving average of $56.85.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Citigroup started coverage on shares of BioMarin Pharmaceutical in a research note on Tuesday, May 19th. They set a “buy” rating and a $75.00 price objective for the company. Truist Financial upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Wednesday, March 25th. Weiss Ratings raised shares of BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, June 26th. Wall Street Zen cut shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Sanford C. Bernstein reduced their target price on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.50.

BioMarin Pharmaceutical 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.