Westpac Banking Corp Decreases Stock Holdings in BioMarin Pharmaceutical Inc. $BMRN

Westpac Banking Corp cut its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 65.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,874 shares of the biotechnology company’s stock after selling 9,106 shares during the period. Westpac Banking Corp’s holdings in BioMarin Pharmaceutical were worth $264,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of BMRN. AQR Capital Management LLC increased its stake in shares of BioMarin Pharmaceutical by 90.7% in the second quarter. AQR Capital Management LLC now owns 5,580,573 shares of the biotechnology company’s stock worth $306,429,000 after acquiring an additional 2,654,768 shares during the last quarter. Norges Bank bought a new position in BioMarin Pharmaceutical during the second quarter worth about $112,352,000. Viking Global Investors LP lifted its stake in BioMarin Pharmaceutical by 13.8% in the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock valued at $675,505,000 after buying an additional 1,488,552 shares in the last quarter. LSV Asset Management raised its holdings in shares of BioMarin Pharmaceutical by 2,445.5% in the third quarter. LSV Asset Management now owns 845,500 shares of the biotechnology company’s stock valued at $45,792,000 after purchasing an additional 812,284 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth approximately $35,202,000. Institutional investors own 98.71% of the company’s stock.

Insider Buying and Selling

In related news, EVP Gregory R. Friberg sold 6,326 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $60.38, for a total transaction of $381,963.88. Following the transaction, the executive vice president directly owned 37,578 shares of the company’s stock, valued at $2,268,959.64. This trade represents a 14.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.85% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $61.11 on Friday. The firm has a market capitalization of $11.74 billion, a P/E ratio of 34.33, a PEG ratio of 0.52 and a beta of 0.26. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.21 and a quick ratio of 3.10. The business has a fifty day moving average of $58.90 and a 200 day moving average of $56.15. BioMarin Pharmaceutical Inc. has a one year low of $50.76 and a one year high of $73.51.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group boosted their target price on shares of BioMarin Pharmaceutical from $98.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday. Stifel Nicolaus set a $68.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday. Wells Fargo & Company raised their target price on BioMarin Pharmaceutical from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Tudor Pickering set a $88.00 target price on BioMarin Pharmaceutical in a research report on Monday, November 3rd. Finally, Guggenheim decreased their price objective on shares of BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday. Fifteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and a consensus price target of $87.71.

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.