Dodge & Cox Sells 421,509 Shares of BioMarin Pharmaceutical Inc. $BMRN

Dodge & Cox lowered its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 2.8% during the 3rd quarter, Holdings Channel reports. The firm owned 14,686,801 shares of the biotechnology company’s stock after selling 421,509 shares during the quarter. Dodge & Cox owned approximately 0.08% of BioMarin Pharmaceutical worth $795,437,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Quent Capital LLC bought a new stake in shares of BioMarin Pharmaceutical in the third quarter worth about $28,000. Smartleaf Asset Management LLC boosted its stake in BioMarin Pharmaceutical by 92.5% during the third quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 360 shares during the last quarter. Parallel Advisors LLC boosted its stake in BioMarin Pharmaceutical by 62.2% during the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 295 shares during the last quarter. Employees Retirement System of Texas purchased a new position in BioMarin Pharmaceutical during the 2nd quarter valued at approximately $58,000. Finally, Jones Financial Companies Lllp increased its stake in BioMarin Pharmaceutical by 88.1% in 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 during the last quarter. Institutional investors own 98.71% of the company’s stock.

Insider Transactions at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 16,486 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total value of $996,743.56. Following the completion of the sale, the executive vice president owned 79,953 shares in the company, valued at approximately $4,833,958.38. The trade was a 17.09% 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. Also, EVP Gregory R. Friberg sold 6,326 shares of the stock in a transaction that occurred 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 directly owned 37,578 shares in the company, valued at approximately $2,268,959.64. This trade represents a 14.41% decrease in their position. The SEC filing for this sale provides additional information. 0.85% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Canaccord Genuity Group upped their price objective on BioMarin Pharmaceutical from $98.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Bank of America reduced their price target on shares of BioMarin Pharmaceutical from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday. Sanford C. Bernstein increased their price objective on shares of BioMarin Pharmaceutical from $90.00 to $94.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. HC Wainwright reduced their target price on shares of BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Finally, Loop Capital set a $105.00 target price on shares of BioMarin Pharmaceutical in a research report on Monday, March 2nd. Seventeen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $90.00.

BioMarin Pharmaceutical Trading Down 0.9%

BMRN stock opened at $58.51 on Friday. BioMarin Pharmaceutical Inc. has a 12 month low of $50.76 and a 12 month high of $73.18. The firm’s 50-day moving average is $58.96 and its 200 day moving average is $56.34. The company has a market capitalization of $11.25 billion, a PE ratio of 32.87, a P/E/G ratio of 0.58 and a beta of 0.25. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.21 and a quick ratio of 3.50.

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.