Guggenheim Capital LLC reduced its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 11.9% in the 4th quarter, Holdings Channel reports. The firm owned 130,458 shares of the biotechnology company’s stock after selling 17,699 shares during the period. Guggenheim Capital LLC’s holdings in BioMarin Pharmaceutical were worth $11,633,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently bought and sold shares of the company. First Manhattan Co. grew its position in BioMarin Pharmaceutical by 104.2% in the fourth quarter. First Manhattan Co. now owns 1,225 shares of the biotechnology company’s stock valued at $109,000 after acquiring an additional 625 shares during the period. Financial Gravity Companies Inc. bought a new stake in BioMarin Pharmaceutical in the fourth quarter valued at $112,000. IFG Advisory LLC bought a new stake in BioMarin Pharmaceutical in the fourth quarter valued at $212,000. Teacher Retirement System of Texas bought a new stake in BioMarin Pharmaceutical in the third quarter valued at $220,000. Finally, First Republic Investment Management Inc. bought a new stake in BioMarin Pharmaceutical in the third quarter valued at $220,000.
BMRN stock opened at $78.84 on Friday. The company has a quick ratio of 2.12, a current ratio of 2.70 and a debt-to-equity ratio of 0.29. BioMarin Pharmaceutical Inc. has a one year low of $77.04 and a one year high of $100.51.
In other BioMarin Pharmaceutical news, insider Henry J. Fuchs sold 15,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $89.23, for a total value of $1,338,450.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP George Eric Davis sold 30,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $90.66, for a total value of $2,719,800.00. Following the completion of the transaction, the executive vice president now directly owns 112,942 shares in the company, valued at approximately $10,239,321.72. The disclosure for this sale can be found here. In the last three months, insiders sold 127,013 shares of company stock worth $11,200,921. Insiders own 1.85% of the company’s stock.
BMRN has been the topic of a number of analyst reports. Zacks Investment Research upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a research report on Tuesday, January 16th. Piper Jaffray Companies reiterated a “buy” rating and issued a $114.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, January 18th. SunTrust Banks upped their price target on BioMarin Pharmaceutical to $130.00 and gave the company a “buy” rating in a research report on Monday, December 11th. JPMorgan Chase & Co. set a $131.00 price target on BioMarin Pharmaceutical and gave the company a “buy” rating in a research report on Monday, November 27th. Finally, Deutsche Bank set a $124.00 price target on BioMarin Pharmaceutical and gave the company a “buy” rating in a research report on Friday, February 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $112.34.
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About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).
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