abrdn plc Acquires 168,121 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

abrdn plc increased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 31.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 695,802 shares of the biotechnology company’s stock after acquiring an additional 168,121 shares during the quarter. abrdn plc owned 0.37% of BioMarin Pharmaceutical worth $45,735,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. nVerses Capital LLC acquired a new stake in BioMarin Pharmaceutical in the third quarter worth $28,000. TD Private Client Wealth LLC increased its position in BioMarin Pharmaceutical by 57.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 186 shares in the last quarter. Meeder Asset Management Inc. raised its stake in BioMarin Pharmaceutical by 920.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock worth $52,000 after buying an additional 663 shares during the period. GAMMA Investing LLC boosted its holdings in BioMarin Pharmaceutical by 56.1% in the third quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 281 shares in the last quarter. Finally, True Wealth Design LLC grew its stake in BioMarin Pharmaceutical by 13,400.0% in the third quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock valued at $57,000 after acquiring an additional 804 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $62.87 on Wednesday. The business’s 50 day simple moving average is $65.10 and its 200 day simple moving average is $72.67. BioMarin Pharmaceutical Inc. has a 12 month low of $60.63 and a 12 month high of $94.85. The company has a market cap of $11.98 billion, a price-to-earnings ratio of 37.65, a PEG ratio of 0.55 and a beta of 0.28. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BMRN. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $80.00 target price on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. William Blair lowered shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. UBS Group boosted their target price on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group dropped their price target on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Finally, Wedbush raised BioMarin Pharmaceutical to a “strong-buy” rating in a report on Monday, November 4th. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $94.20.

Insider Activity

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

BioMarin Pharmaceutical Company 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.