Kovitz Investment Group Partners LLC Has $2.27 Million Stake in BioMarin Pharmaceutical Inc. $BMRN

Kovitz Investment Group Partners LLC trimmed its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 21.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 38,285 shares of the biotechnology company’s stock after selling 10,530 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in BioMarin Pharmaceutical were worth $2,275,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. CIBC Private Wealth Group LLC increased its stake in BioMarin Pharmaceutical by 38.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 179 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of BioMarin Pharmaceutical by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 42,982 shares of the biotechnology company’s stock valued at $2,554,000 after buying an additional 183 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of BioMarin Pharmaceutical by 7.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,741 shares of the biotechnology company’s stock valued at $163,000 after buying an additional 195 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of BioMarin Pharmaceutical by 3.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 7,151 shares of the biotechnology company’s stock valued at $387,000 after acquiring an additional 235 shares in the last quarter. Finally, Davis Investment Partners LLC grew its holdings in shares of BioMarin Pharmaceutical by 3.1% during the 4th quarter. Davis Investment Partners LLC now owns 8,031 shares of the biotechnology company’s stock valued at $477,000 after acquiring an additional 243 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $53.85, for a total value of $176,681.85. Following the sale, the executive vice president owned 51,818 shares in the company, valued at $2,790,399.30. This represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.85% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Loop Capital set a $105.00 price objective on BioMarin Pharmaceutical in a research report on Monday, March 2nd. Guggenheim dropped their target price on shares of BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Morgan Stanley reduced their price target on shares of BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating for the company in a report on Tuesday, May 5th. Canaccord Genuity Group cut their price objective on shares of BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Finally, Wolfe Research restated an “outperform” rating on shares of BioMarin Pharmaceutical in a report on Monday, March 16th. Two equities research 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 issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.67.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN opened at $54.69 on Friday. BioMarin Pharmaceutical Inc. has a 52-week low of $49.26 and a 52-week high of $66.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.20 and a current ratio of 5.81. The company has a market capitalization of $10.57 billion, a P/E ratio of 39.92, a price-to-earnings-growth ratio of 0.42 and a beta of 0.25. The company has a 50-day simple moving average of $54.24 and a 200 day simple moving average of $56.40.

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.