Quantbot Technologies LP Boosts Stock Position in BioMarin Pharmaceutical Inc. $BMRN

Quantbot Technologies LP raised its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1,255.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,082 shares of the biotechnology company’s stock after purchasing an additional 8,412 shares during the period. Quantbot Technologies LP’s holdings in BioMarin Pharmaceutical were worth $492,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quent Capital LLC acquired a new stake in shares of BioMarin Pharmaceutical during the third quarter worth approximately $28,000. Smartleaf Asset Management LLC boosted its stake in BioMarin Pharmaceutical by 92.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 360 shares during the last quarter. Employees Retirement System of Texas acquired a new position in BioMarin Pharmaceutical during the 2nd quarter worth $58,000. Jones Financial Companies Lllp grew its holdings in BioMarin Pharmaceutical by 88.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,401 shares of the biotechnology company’s stock worth $75,000 after acquiring an additional 656 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its position in shares of BioMarin Pharmaceutical by 47.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,555 shares of the biotechnology company’s stock worth $84,000 after purchasing an additional 499 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BMRN has been the topic of a number of recent analyst reports. Leerink Partners lowered shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and cut their target price for the company from $82.00 to $60.00 in a research note on Wednesday, December 3rd. Piper Sandler lowered their price objective on BioMarin Pharmaceutical from $122.00 to $84.00 and set an “overweight” rating for the company in a report on Friday, February 6th. Guggenheim cut their price objective on BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Wells Fargo & Company increased their target price on BioMarin Pharmaceutical from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Finally, Truist Financial lifted their target price on BioMarin Pharmaceutical from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, December 23rd. Fifteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $89.64.

Insider Activity

In other news, EVP Gregory R. Friberg sold 6,326 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $60.38, for a total value of $381,963.88. Following the completion of the transaction, the executive vice president owned 37,578 shares of the company’s stock, valued at approximately $2,268,959.64. This represents a 14.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Stock Up 0.9%

BMRN opened at $61.12 on Monday. The stock’s 50 day moving average price is $58.92 and its 200 day moving average price is $56.25. 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 stock has a market cap of $11.75 billion, a P/E ratio of 34.34, a P/E/G ratio of 0.53 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a 12 month low of $50.76 and a 12 month high of $73.51.

BioMarin Pharmaceutical Company 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.