Geode Capital Management LLC Boosts Stock Holdings in BioMarin Pharmaceutical Inc. $BMRN

Geode Capital Management LLC boosted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,674,089 shares of the biotechnology company’s stock after purchasing an additional 131,969 shares during the period. Geode Capital Management LLC’s holdings in BioMarin Pharmaceutical were worth $218,395,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Allstate Corp lifted its stake in BioMarin Pharmaceutical by 53.5% in the fourth quarter. Allstate Corp now owns 9,761 shares of the biotechnology company’s stock valued at $580,000 after purchasing an additional 3,402 shares during the last quarter. Fisher Asset Management LLC lifted its stake in BioMarin Pharmaceutical by 11.2% in the fourth quarter. Fisher Asset Management LLC now owns 35,290 shares of the biotechnology company’s stock valued at $2,097,000 after purchasing an additional 3,564 shares during the last quarter. Clearstead Advisors LLC lifted its stake in BioMarin Pharmaceutical by 79.1% in the fourth quarter. Clearstead Advisors LLC now owns 6,187 shares of the biotechnology company’s stock valued at $368,000 after purchasing an additional 2,733 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in BioMarin Pharmaceutical by 250.8% in the fourth quarter. Hantz Financial Services Inc. now owns 5,455 shares of the biotechnology company’s stock valued at $324,000 after purchasing an additional 3,900 shares during the last quarter. Finally, Systematic Financial Management LP lifted its stake in BioMarin Pharmaceutical by 2,269.8% in the fourth quarter. Systematic Financial Management LP now owns 254,400 shares of the biotechnology company’s stock valued at $15,119,000 after purchasing an additional 243,665 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Down 3.1%

Shares of BMRN stock opened at $53.32 on Wednesday. The company’s fifty day simple moving average is $54.22 and its two-hundred day simple moving average is $56.33. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.81 and a quick ratio of 4.20. BioMarin Pharmaceutical Inc. has a 1 year low of $49.26 and a 1 year high of $66.28. The stock has a market capitalization of $10.31 billion, a price-to-earnings ratio of 38.92, a PEG ratio of 0.42 and a beta of 0.25.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 16,486 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $60.46, for a total transaction of $996,743.56. Following the sale, the executive vice president owned 79,953 shares of the company’s stock, valued at $4,833,958.38. The trade was a 17.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gregory R. Friberg sold 3,281 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $53.85, for a total transaction of $176,681.85. Following the sale, the executive vice president directly owned 51,818 shares in the company, valued at $2,790,399.30. The trade was a 5.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BMRN. Guggenheim dropped their price objective on BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Morgan Stanley dropped their price objective on BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 5th. Bank of America dropped their price objective on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Sanford C. Bernstein dropped their price objective on BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Finally, Canaccord Genuity Group dropped their price objective on BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $88.67.

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.