Thornburg Investment Management Inc. Grows Stake in BioMarin Pharmaceutical Inc. $BMRN

Thornburg Investment Management Inc. grew its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 24.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,730 shares of the biotechnology company’s stock after purchasing an additional 17,585 shares during the quarter. Thornburg Investment Management Inc.’s holdings in BioMarin Pharmaceutical were worth $5,392,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of BioMarin Pharmaceutical during the fourth quarter valued at $447,572,000. Capital Research Global Investors grew its holdings in shares of BioMarin Pharmaceutical by 547.5% during the third quarter. Capital Research Global Investors now owns 2,537,596 shares of the biotechnology company’s stock valued at $137,436,000 after buying an additional 2,145,717 shares during the last quarter. Viking Global Investors LP grew its holdings in shares of BioMarin Pharmaceutical by 13.8% during the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock valued at $675,505,000 after buying an additional 1,488,552 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of BioMarin Pharmaceutical by 48.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,321,754 shares of the biotechnology company’s stock valued at $197,405,000 after buying an additional 1,076,568 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of BioMarin Pharmaceutical by 312.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,419,067 shares of the biotechnology company’s stock valued at $84,335,000 after buying an additional 1,074,929 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, EVP Gregory R. Friberg sold 3,281 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $53.85, for a total transaction of $176,681.85. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Trading Down 0.5%

Shares of BioMarin Pharmaceutical stock opened at $55.65 on Tuesday. The firm has a 50-day simple moving average of $54.35 and a two-hundred day simple moving average of $56.43. The company has a market cap of $10.76 billion, a P/E ratio of 40.62, a price-to-earnings-growth ratio of 0.43 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a fifty-two week low of $49.26 and a fifty-two 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wolfe Research reissued an “outperform” rating on shares of BioMarin Pharmaceutical in a report on Monday, March 16th. Stifel Nicolaus set a $68.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, February 24th. Morgan Stanley dropped their price objective on shares of BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. Truist Financial raised shares of BioMarin Pharmaceutical to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, Bank of America dropped their price objective on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price of $88.67.

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.