SBI Okasan Asset Management Co.Ltd. Takes Position in BioMarin Pharmaceutical Inc. $BMRN

SBI Okasan Asset Management Co.Ltd. purchased a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,300 shares of the biotechnology company’s stock, valued at approximately $678,000.

Other large investors also recently modified their holdings of the company. Federated Hermes Inc. increased its holdings in shares of BioMarin Pharmaceutical by 292.6% during the third quarter. Federated Hermes Inc. now owns 278,315 shares of the biotechnology company’s stock valued at $15,074,000 after purchasing an additional 207,430 shares during the period. Mediolanum International Funds Ltd increased its holdings in shares of BioMarin Pharmaceutical by 56.2% during the third quarter. Mediolanum International Funds Ltd now owns 137,675 shares of the biotechnology company’s stock valued at $7,437,000 after purchasing an additional 49,534 shares during the period. DNB Asset Management AS increased its holdings in shares of BioMarin Pharmaceutical by 13.8% during the third quarter. DNB Asset Management AS now owns 1,274,284 shares of the biotechnology company’s stock valued at $69,015,000 after purchasing an additional 154,954 shares during the period. New York Life Investment Management LLC acquired a new position in shares of BioMarin Pharmaceutical during the third quarter valued at $1,071,000. Finally, Savant Capital LLC grew its holdings in BioMarin Pharmaceutical by 54.4% during the third quarter. Savant Capital LLC now owns 82,827 shares of the biotechnology company’s stock worth $4,486,000 after acquiring an additional 29,174 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

NASDAQ:BMRN opened at $57.29 on Friday. The company has a quick ratio of 4.20, a current ratio of 5.81 and a debt-to-equity ratio of 0.23. BioMarin Pharmaceutical Inc. has a 52-week low of $49.26 and a 52-week high of $66.28. The firm has a market cap of $11.07 billion, a P/E ratio of 41.82, a PEG ratio of 0.40 and a beta of 0.23. The business’s 50-day moving average price is $54.22 and its 200 day moving average price is $56.30.

Insiders Place Their Bets

In related news, EVP Charles Greg Guyer sold 16,486 shares of the stock in a transaction 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 transaction, the executive vice president owned 79,953 shares in the company, valued at $4,833,958.38. This trade represents a 17.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gregory R. Friberg sold 3,281 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $53.85, for a total value of $176,681.85. Following the completion of the transaction, the executive vice president owned 51,818 shares of the company’s stock, valued at $2,790,399.30. This trade represents a 5.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Bank of America lowered their target price on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Sanford C. Bernstein lowered their target price on BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Wells Fargo & Company lifted 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. Piper Sandler lowered their target price on BioMarin Pharmaceutical from $122.00 to $84.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Finally, Loop Capital set a $105.00 target price on BioMarin Pharmaceutical in a report on Monday, March 2nd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.67.

About BioMarin Pharmaceutical

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.