BioMarin Pharmaceutical Inc. $BMRN Shares Bought by Korea Investment CORP

Korea Investment CORP grew its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 115.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 519,903 shares of the biotechnology company’s stock after acquiring an additional 278,300 shares during the period. Korea Investment CORP owned about 0.27% of BioMarin Pharmaceutical worth $28,158,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Sittner & Nelson LLC raised its stake in shares of BioMarin Pharmaceutical by 6.9% during the 2nd quarter. Sittner & Nelson LLC now owns 3,100 shares of the biotechnology company’s stock worth $170,000 after buying an additional 200 shares in the last quarter. Grandfield & Dodd LLC raised its position 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 in 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 valued at $387,000 after acquiring an additional 235 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of BioMarin Pharmaceutical by 0.6% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 38,890 shares of the biotechnology company’s stock worth $2,138,000 after purchasing an additional 250 shares in the last quarter. Finally, New Wave Wealth Advisors LLC grew its stake in shares of BioMarin Pharmaceutical by 2.5% during the 3rd quarter. New Wave Wealth Advisors LLC now owns 11,910 shares of the biotechnology company’s stock worth $645,000 after purchasing an additional 288 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $60.88 on Tuesday. The firm has a market capitalization of $11.71 billion, a PE ratio of 34.20, a P/E/G ratio of 0.53 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a 52 week low of $50.76 and a 52 week high of $73.18. The firm’s 50-day simple moving average is $58.93 and its 200 day simple moving average is $56.27. The company has a quick ratio of 3.50, a current ratio of 5.21 and a debt-to-equity ratio of 0.10.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 6,326 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $60.38, for a total value of $381,963.88. Following the sale, the executive vice president owned 37,578 shares of the company’s stock, valued at $2,268,959.64. This represents a 14.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on BMRN. Stifel Nicolaus set a $68.00 price objective on shares of BioMarin Pharmaceutical in a research note on Tuesday, February 24th. Oppenheimer lowered their target price on shares of BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Loop Capital set a $105.00 target price on shares of BioMarin Pharmaceutical in a report on Monday, March 2nd. HC Wainwright reduced their price target on shares of BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Finally, Canaccord Genuity Group boosted their price target on BioMarin Pharmaceutical from $98.00 to $104.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Fifteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus price target of $89.64.

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.