Blue Trust Inc. Boosts Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Blue Trust Inc. boosted its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 27.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,095 shares of the biotechnology company’s stock after purchasing an additional 236 shares during the period. Blue Trust Inc.’s holdings in BioMarin Pharmaceutical were worth $77,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Merit Financial Group LLC purchased a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth about $317,000. Assenagon Asset Management S.A. lifted its holdings in BioMarin Pharmaceutical by 461.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock worth $40,205,000 after purchasing an additional 502,695 shares in the last quarter. Wedmont Private Capital bought a new position in BioMarin Pharmaceutical in the 4th quarter worth about $430,000. EULAV Asset Management grew its holdings in BioMarin Pharmaceutical by 12.9% during the 3rd quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company’s stock valued at $9,208,000 after buying an additional 15,000 shares in the last quarter. Finally, King Luther Capital Management Corp bought a new stake in shares of BioMarin Pharmaceutical during the third quarter valued at about $2,027,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $63.93 on Friday. BioMarin Pharmaceutical Inc. has a 1 year low of $60.63 and a 1 year high of $94.85. The stock has a market capitalization of $12.18 billion, a P/E ratio of 38.28, a P/E/G ratio of 0.55 and a beta of 0.28. The company’s 50-day moving average is $65.02 and its 200 day moving average is $72.41. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Evercore ISI reduced their price target on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $80.00 price objective on shares of BioMarin Pharmaceutical in a report on Wednesday, October 30th. Robert W. Baird lowered their price objective on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Citigroup decreased their price objective on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group dropped their target price on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.20.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the transaction, the executive vice president now directly owns 68,909 shares in the company, valued at $4,573,490.33. This trade represents a 7.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.