BioMarin Pharmaceutical Inc. $BMRN Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC reduced its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 43.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,281 shares of the biotechnology company’s stock after selling 10,154 shares during the quarter. Pallas Capital Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $789,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter valued at approximately $1,047,000. Jump Financial LLC boosted its holdings in BioMarin Pharmaceutical by 530.3% in the second quarter. Jump Financial LLC now owns 291,217 shares of the biotechnology company’s stock worth $16,008,000 after purchasing an additional 245,017 shares during the period. AQR Capital Management LLC increased its stake in BioMarin Pharmaceutical by 90.7% during the second quarter. AQR Capital Management LLC now owns 5,580,573 shares of the biotechnology company’s stock valued at $306,429,000 after purchasing an additional 2,654,768 shares during the last quarter. Federated Hermes Inc. increased its stake in BioMarin Pharmaceutical by 292.6% during the third quarter. Federated Hermes Inc. now owns 278,315 shares of the biotechnology company’s stock valued at $15,074,000 after purchasing an additional 207,430 shares during the last quarter. Finally, Mediolanum International Funds Ltd raised its holdings in shares of BioMarin Pharmaceutical by 56.2% during the third quarter. Mediolanum International Funds Ltd now owns 137,675 shares of the biotechnology company’s stock worth $7,437,000 after purchasing an additional 49,534 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $54.79 on Tuesday. The business has a 50 day moving average price of $58.45 and a two-hundred day moving average price of $56.16. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.21 and a quick ratio of 3.50. The company has a market capitalization of $10.54 billion, a price-to-earnings ratio of 30.78, a price-to-earnings-growth ratio of 0.53 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a 1-year low of $50.76 and a 1-year high of $71.28.

Insiders Place Their Bets

In related news, EVP Gregory R. Friberg sold 6,326 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, February 26th. The stock was 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. The trade was a 14.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Charles Greg Guyer sold 16,486 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total transaction of $996,743.56. Following the completion of the sale, the executive vice president owned 79,953 shares in the company, valued at approximately $4,833,958.38. This trade represents a 17.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.85% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Leerink Partners downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $82.00 to $60.00 in a research report on Wednesday, December 3rd. Barclays increased their price objective on shares of BioMarin Pharmaceutical from $80.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. Canaccord Genuity Group raised their target price on shares of BioMarin Pharmaceutical from $98.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Oppenheimer decreased their target price on BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. Finally, Loop Capital set a $105.00 target price on BioMarin Pharmaceutical in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $90.00.

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.