Motley Fool Wealth Management LLC Sells 85,023 Shares of BioMarin Pharmaceutical Inc. $BMRN

Motley Fool Wealth Management LLC lowered its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 20.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,853 shares of the biotechnology company’s stock after selling 85,023 shares during the quarter. BioMarin Pharmaceutical comprises approximately 1.5% of Motley Fool Wealth Management LLC’s investment portfolio, making the stock its 16th biggest position. Motley Fool Wealth Management LLC’s holdings in BioMarin Pharmaceutical were worth $19,663,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Northwestern Mutual Investment Management Company LLC grew its position in BioMarin Pharmaceutical by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 42,982 shares of the biotechnology company’s stock worth $2,554,000 after buying an additional 183 shares in the last quarter. Nisa Investment Advisors LLC grew its position in BioMarin Pharmaceutical by 7.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,741 shares of the biotechnology company’s stock worth $163,000 after buying an additional 195 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in BioMarin Pharmaceutical by 3.4% during the third quarter. EverSource Wealth Advisors LLC now owns 7,151 shares of the biotechnology company’s stock worth $387,000 after buying an additional 235 shares in the last quarter. Davis Investment Partners LLC grew its position in BioMarin Pharmaceutical by 3.1% during the fourth 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. Finally, Parallel Advisors LLC grew its position in BioMarin Pharmaceutical by 62.2% during the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after buying an additional 295 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus set a $68.00 price target on BioMarin Pharmaceutical in a research report on Tuesday, February 24th. Barclays increased their price target on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Jefferies Financial Group reissued a “buy” rating and set a $103.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, March 12th. Oppenheimer reduced their price target on BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Finally, Truist Financial raised BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Wednesday, March 25th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and an average price target of $88.67.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of the firm’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 sale, the executive vice president owned 51,818 shares of the company’s stock, valued at approximately $2,790,399.30. This trade represents a 5.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Trading Up 2.4%

Shares of BMRN stock opened at $57.91 on Wednesday. The stock’s fifty day moving average price is $54.37 and its two-hundred day moving average price is $56.40. The company has a market cap of $11.19 billion, a PE ratio of 42.27, a P/E/G ratio of 0.43 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $66.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.20 and a current ratio of 5.81.

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.