BioMarin Pharmaceutical Inc. $BMRN Shares Purchased by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. increased its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 24.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 90,730 shares of the biotechnology company’s stock after purchasing an additional 17,585 shares during the period. Thornburg Investment Management Inc.’s holdings in BioMarin Pharmaceutical were worth $5,392,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Activest Wealth Management acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth about $26,000. CIBC Private Wealth Group LLC grew its stake in BioMarin Pharmaceutical by 38.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock valued at $39,000 after acquiring an additional 179 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in BioMarin Pharmaceutical by 92.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 360 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in BioMarin Pharmaceutical during the 3rd quarter valued at about $40,000. Finally, Parallel Advisors LLC grew its stake in BioMarin Pharmaceutical by 62.2% during the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 295 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $55.65 on Tuesday. The firm has a 50 day simple moving average of $54.35 and a 200-day simple moving average of $56.43. BioMarin Pharmaceutical Inc. has a 1-year low of $49.26 and a 1-year high of $66.28. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.81 and a quick ratio of 4.20. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of 40.62, a price-to-earnings-growth ratio of 0.43 and a beta of 0.25.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $103.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, March 12th. HC Wainwright dropped their price objective on shares of BioMarin Pharmaceutical from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, May 18th. Guggenheim dropped their price objective on shares of BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Stifel Nicolaus set a $68.00 price objective on shares of BioMarin Pharmaceutical in a research note on Tuesday, February 24th. Finally, Wall Street Zen cut shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.67.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, EVP Gregory R. Friberg sold 3,281 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.85% of the company’s stock.

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.