Yousif Capital Management LLC Sells 3,068 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Yousif Capital Management LLC decreased its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 4.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,769 shares of the biotechnology company’s stock after selling 3,068 shares during the quarter. Yousif Capital Management LLC’s holdings in BioMarin Pharmaceutical were worth $4,586,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Primecap Management Co. CA increased its position in shares of BioMarin Pharmaceutical by 0.4% during the third quarter. Primecap Management Co. CA now owns 18,867,435 shares of the biotechnology company’s stock worth $1,326,192,000 after acquiring an additional 77,350 shares during the period. Geode Capital Management LLC increased its holdings in BioMarin Pharmaceutical by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,260,050 shares of the biotechnology company’s stock worth $228,632,000 after purchasing an additional 60,692 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in BioMarin Pharmaceutical by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,401,628 shares of the biotechnology company’s stock worth $98,520,000 after purchasing an additional 55,699 shares during the period. abrdn plc raised its position in BioMarin Pharmaceutical by 31.9% during the 4th quarter. abrdn plc now owns 695,802 shares of the biotechnology company’s stock valued at $45,735,000 after purchasing an additional 168,121 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter worth $48,527,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Trading Down 0.6 %

Shares of BioMarin Pharmaceutical stock opened at $63.93 on Friday. The firm’s 50 day simple moving average is $65.02 and its two-hundred day simple moving average is $72.41. The firm has a market capitalization of $12.18 billion, a price-to-earnings ratio of 38.28, a PEG ratio of 0.55 and a beta of 0.28. BioMarin Pharmaceutical Inc. has a 12-month low of $60.63 and a 12-month high of $94.85. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11.

Insider Activity at BioMarin Pharmaceutical

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BMRN shares. Evercore ISI cut their price target on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $80.00 price target on shares of BioMarin Pharmaceutical in a report on Wednesday, October 30th. Canaccord Genuity Group dropped their price objective on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Citigroup reduced their price objective on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Finally, UBS Group upped their target price on BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a “buy” rating 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $94.20.

About BioMarin Pharmaceutical

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.