Advisors Preferred LLC Acquires New Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Advisors Preferred LLC bought a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 14,329 shares of the biotechnology company’s stock, valued at approximately $953,000.

A number of other large investors have also modified their holdings of BMRN. Sumitomo Mitsui Trust Group Inc. lifted its holdings in BioMarin Pharmaceutical by 3.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 470,043 shares of the biotechnology company’s stock valued at $30,896,000 after acquiring an additional 13,946 shares during the period. Bleakley Financial Group LLC purchased a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at about $330,000. abrdn plc increased its holdings in shares of BioMarin Pharmaceutical by 31.9% in 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. Level Wealth Management LLC purchased a new stake in BioMarin Pharmaceutical during the fourth quarter worth about $627,000. Finally, Tokio Marine Asset Management Co. Ltd. boosted its holdings in BioMarin Pharmaceutical by 5.8% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,326 shares of the biotechnology company’s stock worth $1,467,000 after buying an additional 1,221 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $80.00 price target on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. Wedbush upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. lowered their price target on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Wolfe Research initiated coverage on BioMarin Pharmaceutical in a report on Friday, November 15th. They set an “outperform” rating and a $95.00 target price on the stock. Finally, Citigroup cut their price target on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.20.

Insider Buying and Selling

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 shares were sold at an average price of $66.37, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.85% of the stock is currently owned by insiders.

BioMarin Pharmaceutical Stock Down 0.6 %

Shares of NASDAQ:BMRN opened at $63.93 on Friday. The company has a market capitalization 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 company has a 50 day moving average of $65.02 and a two-hundred day moving average of $72.41. BioMarin Pharmaceutical Inc. has a 52-week low of $60.63 and a 52-week high of $94.85. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11.

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.