Oppenheimer & Co. Inc. Lowers Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Oppenheimer & Co. Inc. reduced its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRNFree Report) by 18.3% in the third quarter, Holdings Channel reports. The institutional investor owned 2,694 shares of the biotechnology company’s stock after selling 602 shares during the period. Oppenheimer & Co. Inc.’s holdings in BioMarin Pharmaceutical were worth $238,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BMRN. ICA Group Wealth Management LLC purchased a new stake in BioMarin Pharmaceutical in the 4th quarter worth $31,000. Acadian Asset Management LLC grew its position in shares of BioMarin Pharmaceutical by 395.4% during the first quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 344 shares in the last quarter. Castleview Partners LLC purchased a new stake in shares of BioMarin Pharmaceutical during the third quarter worth about $35,000. MayTech Global Investments LLC purchased a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth about $36,000. Finally, Dark Forest Capital Management LP purchased a new stake in BioMarin Pharmaceutical during the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 92.78% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $88.18 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.54 and a quick ratio of 1.65. The firm has a market capitalization of $16.61 billion, a P/E ratio of 114.52, a price-to-earnings-growth ratio of 1.00 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a 1-year low of $76.02 and a 1-year high of $109.65. The company’s 50-day moving average is $93.80 and its 200 day moving average is $89.94.

Analyst Ratings Changes

Several equities analysts recently weighed in on BMRN shares. Robert W. Baird cut their target price on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating for the company in a research note on Tuesday, January 30th. Piper Sandler cut their price objective on BioMarin Pharmaceutical from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. Cantor Fitzgerald cut their price objective on BioMarin Pharmaceutical from $120.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, November 7th. Finally, Wells Fargo & Company started coverage on BioMarin Pharmaceutical in a report on Wednesday, November 15th. They set an “overweight” rating and a $100.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $110.16.

Read Our Latest Research Report on BioMarin Pharmaceutical

Insider Activity

In related news, Director Jean Jacques Bienaime sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $98.19, for a total transaction of $981,900.00. Following the completion of the sale, the director now directly owns 425,162 shares of the company’s stock, valued at approximately $41,746,656.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 13,764 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $95.30, for a total value of $1,311,709.20. Following the completion of the sale, the executive vice president now directly owns 55,710 shares of the company’s stock, valued at approximately $5,309,163. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jean Jacques Bienaime sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $98.19, for a total transaction of $981,900.00. Following the completion of the sale, the director now directly owns 425,162 shares of the company’s stock, valued at $41,746,656.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,764 shares of company stock valued at $4,557,709. 1.84% of the stock is currently owned by insiders.

About BioMarin Pharmaceutical

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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