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

abrdn plc lifted its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 31.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 695,802 shares of the biotechnology company's stock after buying an additional 168,121 shares during the quarter. abrdn plc owned about 0.37% of BioMarin Pharmaceutical worth $45,735,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp grew its stake in shares of BioMarin Pharmaceutical by 13.9% during the fourth quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company's stock worth $89,000 after buying an additional 165 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of BioMarin Pharmaceutical by 0.8% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company's stock valued at $1,483,000 after acquiring an additional 173 shares in the last quarter. Advisors Asset Management Inc. grew its position in BioMarin Pharmaceutical by 1.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company's stock worth $805,000 after acquiring an additional 180 shares during the last quarter. TD Private Client Wealth LLC increased its holdings 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 worth $36,000 after purchasing an additional 186 shares in the last quarter. Finally, First Hawaiian Bank raised its position in BioMarin Pharmaceutical by 1.4% in the fourth quarter. First Hawaiian Bank now owns 14,700 shares of the biotechnology company's stock valued at $966,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Stock Down 0.6 %

Shares of NASDAQ:BMRN traded down $0.41 during trading on Friday, reaching $63.93. 954,675 shares of the stock were exchanged, compared to its average volume of 1,600,231. The firm has a market cap of $12.18 billion, a price-to-earnings ratio of 38.28, a price-to-earnings-growth ratio of 0.55 and a beta of 0.28. The stock has a fifty day moving average of $65.02 and a two-hundred day moving average of $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. BioMarin Pharmaceutical Inc. has a 1-year low of $60.63 and a 1-year high of $94.85.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the firm'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 transaction, the executive vice president now owns 68,909 shares in the company, valued at $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.85% of the company's stock.

Analysts Set New Price Targets

BMRN has been the subject of several recent research reports. Canaccord Genuity Group lowered their price objective on BioMarin Pharmaceutical from $93.00 to $84.00 and set a "hold" rating for the company 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 research report on Wednesday, October 30th. UBS Group boosted their price objective on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Wedbush raised BioMarin Pharmaceutical to a "strong-buy" rating in a research report on Monday, November 4th. Finally, Wolfe Research initiated coverage on BioMarin Pharmaceutical in a research report on Friday, November 15th. They issued an "outperform" rating and a $95.00 price target on the stock. Seven research 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.