Profund Advisors LLC Sells 7,213 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)
Profund Advisors LLC cut its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 16.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 36,986 shares of the biotechnology company’s stock after selling 7,213 shares during the period. Profund Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $3,243,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Vident Investment Advisory LLC raised its position in shares of BioMarin Pharmaceutical by 43.9% during the fourth quarter. Vident Investment Advisory LLC now owns 10,306 shares of the biotechnology company’s stock worth $903,000 after purchasing an additional 3,146 shares during the period. Alliancebernstein L.P. lifted its stake in BioMarin Pharmaceutical by 38.9% in the fourth quarter. Alliancebernstein L.P. now owns 418,088 shares of the biotechnology company’s stock valued at $36,662,000 after buying an additional 117,161 shares in the last quarter. FDx Advisors Inc. acquired a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at approximately $238,000. Waycross Partners LLC bought a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth $403,000. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of BioMarin Pharmaceutical by 4.4% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 278,615 shares of the biotechnology company’s stock worth $24,432,000 after acquiring an additional 11,860 shares during the period. 97.65% of the stock is owned by hedge funds and other institutional investors.
BMRN has been the topic of several recent research reports. SVB Leerink dropped their price target on BioMarin Pharmaceutical from $113.00 to $108.00 and set an “outperform” rating on the stock in a research note on Friday, November 6th. Robert W. Baird boosted their target price on BioMarin Pharmaceutical from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, January 11th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $116.91.
In related news, CEO Jean Jacques Bienaime sold 8,333 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Wednesday, January 27th. The shares were sold at an average price of $85.49, for a total value of $712,388.17. Following the transaction, the chief executive officer now directly owns 303,885 shares of the company’s stock, valued at $25,979,128.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 33,167 shares of company stock worth $2,795,895 in the last quarter. 2.15% of the stock is currently owned by company insiders.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.
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