Hussman Strategic Advisors Inc. Purchases 10,500 Shares of BioMarin Pharmaceutical Inc. $BMRN

Hussman Strategic Advisors Inc. increased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 50.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,500 shares of the biotechnology company’s stock after acquiring an additional 10,500 shares during the period. Hussman Strategic Advisors Inc.’s holdings in BioMarin Pharmaceutical were worth $1,872,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Activest Wealth Management bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter worth $26,000. Quent Capital LLC bought a new position in shares of BioMarin Pharmaceutical during the third quarter valued at $28,000. Caitong International Asset Management Co. Ltd bought a new position in shares of BioMarin Pharmaceutical during the third quarter valued at $40,000. Smartleaf Asset Management LLC boosted its position in shares of 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. Finally, V Square Quantitative Management LLC bought a new stake in BioMarin Pharmaceutical in the 4th quarter worth about $45,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Trading Up 0.3%

Shares of NASDAQ:BMRN opened at $54.06 on Friday. The stock’s 50-day simple moving average is $56.93 and its two-hundred day simple moving average is $56.29. The stock has a market capitalization of $10.45 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 0.54 and a beta of 0.23. BioMarin Pharmaceutical Inc. has a 52-week low of $50.76 and a 52-week high of $66.28. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.50 and a current ratio of 5.21.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BMRN shares. Piper Sandler decreased their target price on BioMarin Pharmaceutical from $122.00 to $84.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Guggenheim dropped their price target 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. Barclays lifted their price target on shares of BioMarin Pharmaceutical from $80.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. HC Wainwright lowered their price objective on shares of BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Finally, Truist Financial upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a report on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.48.

Insider Activity at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 16,486 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $60.46, for a total value of $996,743.56. Following the transaction, the executive vice president owned 79,953 shares of the company’s stock, valued at approximately $4,833,958.38. This trade represents a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gregory R. Friberg sold 6,326 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $60.38, for a total transaction 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 trade represents a 14.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.85% of the stock is owned by corporate insiders.

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.