BioMarin Pharmaceutical Inc. $BMRN Position Lowered by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lowered its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 97.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,914 shares of the biotechnology company’s stock after selling 161,663 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in BioMarin Pharmaceutical were worth $233,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Nisa Investment Advisors LLC lifted its holdings in BioMarin Pharmaceutical by 7.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,741 shares of the biotechnology company’s stock worth $163,000 after acquiring an additional 195 shares during the last quarter. Grandfield & Dodd LLC lifted its holdings in BioMarin Pharmaceutical by 1.2% in the third quarter. Grandfield & Dodd LLC now owns 18,967 shares of the biotechnology company’s stock worth $1,027,000 after acquiring an additional 217 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in BioMarin Pharmaceutical by 3.4% in the third quarter. EverSource Wealth Advisors LLC now owns 7,151 shares of the biotechnology company’s stock worth $387,000 after acquiring an additional 235 shares during the last quarter. Davis Investment Partners LLC lifted its holdings in BioMarin Pharmaceutical by 3.1% in the fourth quarter. Davis Investment Partners LLC now owns 8,031 shares of the biotechnology company’s stock worth $477,000 after acquiring an additional 243 shares during the last quarter. Finally, New Wave Wealth Advisors LLC lifted its holdings in BioMarin Pharmaceutical by 2.5% in the third quarter. New Wave Wealth Advisors LLC now owns 11,910 shares of the biotechnology company’s stock worth $645,000 after acquiring an additional 288 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, EVP Gregory R. Friberg sold 3,281 shares of BioMarin Pharmaceutical stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $53.85, for a total value of $176,681.85. Following the transaction, the executive vice president owned 51,818 shares in the company, valued at $2,790,399.30. This trade represents a 5.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Charles Greg Guyer sold 16,486 shares of BioMarin Pharmaceutical stock in a transaction on 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 transaction, the executive vice president owned 79,953 shares in the company, valued at $4,833,958.38. This trade represents a 17.09% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 26,093 shares of company stock valued at $1,555,389. 0.85% of the stock is owned by company insiders.

BioMarin Pharmaceutical Stock Up 1.3%

BMRN stock opened at $53.55 on Thursday. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23. BioMarin Pharmaceutical Inc. has a 1 year low of $50.76 and a 1 year high of $66.28. The company has a fifty day simple moving average of $55.76 and a 200 day simple moving average of $56.32. The firm has a market cap of $10.35 billion, a PE ratio of 39.09, a PEG ratio of 0.39 and a beta of 0.23.

Analyst Upgrades and Downgrades

BMRN has been the topic of a number of recent research reports. Piper Sandler cut their target price on shares of BioMarin Pharmaceutical from $122.00 to $84.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Sanford C. Bernstein lowered their price objective on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Canaccord Genuity Group raised their price objective on shares of BioMarin Pharmaceutical from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Morgan Stanley decreased their price target on shares of BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. Finally, Guggenheim decreased their price target on shares of BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.91.

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.