BioMarin Pharmaceutical Inc. $BMRN Shares Bought by Westpac Banking Corp

Westpac Banking Corp raised its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 425.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,621 shares of the biotechnology company’s stock after acquiring an additional 20,747 shares during the quarter. Westpac Banking Corp’s holdings in BioMarin Pharmaceutical were worth $1,523,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BMRN. Activest Wealth Management acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth $26,000. Smartleaf Asset Management LLC raised its stake in shares of BioMarin Pharmaceutical by 92.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock worth $40,000 after buying an additional 360 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth $40,000. Parallel Advisors LLC raised its stake in shares of BioMarin Pharmaceutical by 62.2% during the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after buying an additional 295 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth $45,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 16,486 shares of the company’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 transaction, the executive vice president owned 79,953 shares in the company, valued at $4,833,958.38. This represents a 17.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregory R. Friberg sold 3,281 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was 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 approximately $2,790,399.30. This represents a 5.95% decrease in their position. The SEC filing for this sale provides additional information. 0.85% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BMRN. Bank of America cut their price target on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Wolfe Research reaffirmed an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Monday, March 16th. Weiss Ratings raised BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Piper Sandler cut their target price on shares of BioMarin Pharmaceutical from $122.00 to $84.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. Finally, Barclays boosted their target price on shares of BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.67.

BioMarin Pharmaceutical Trading Up 2.5%

Shares of BMRN stock opened at $54.66 on Thursday. The firm has a 50-day moving average price of $54.20 and a 200 day moving average price of $56.31. BioMarin Pharmaceutical Inc. has a twelve month low of $49.26 and a twelve month high of $66.28. The company has a market capitalization of $10.56 billion, a price-to-earnings ratio of 39.90, a PEG ratio of 0.40 and a beta of 0.25. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23.

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.