Edgestream Partners L.P. Makes New Investment in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Edgestream Partners L.P. purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 19,678 shares of the biotechnology company’s stock, valued at approximately $1,719,000.

Other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its holdings in shares of BioMarin Pharmaceutical by 4.9% in the fourth quarter. Nordea Investment Management AB now owns 11,594 shares of the biotechnology company’s stock valued at $1,121,000 after purchasing an additional 544 shares during the period. Advisor Resource Council acquired a new position in BioMarin Pharmaceutical during the fourth quarter worth $234,000. State of Alaska Department of Revenue grew its holdings in BioMarin Pharmaceutical by 1.3% during the fourth quarter. State of Alaska Department of Revenue now owns 27,965 shares of the biotechnology company’s stock worth $2,696,000 after acquiring an additional 360 shares during the period. Manning & Napier Group LLC boosted its position in BioMarin Pharmaceutical by 0.5% during the fourth quarter. Manning & Napier Group LLC now owns 1,145,113 shares of the biotechnology company’s stock worth $110,412,000 after purchasing an additional 6,161 shares in the last quarter. Finally, Griffin Asset Management Inc. boosted its position in BioMarin Pharmaceutical by 2.7% during the fourth quarter. Griffin Asset Management Inc. now owns 17,473 shares of the biotechnology company’s stock worth $1,685,000 after purchasing an additional 453 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Up 1.5 %

NASDAQ:BMRN traded up $1.22 on Monday, hitting $85.31. 1,513,748 shares of the stock were exchanged, compared to its average volume of 1,910,710. The stock has a market cap of $16.20 billion, a PE ratio of 79.77, a PEG ratio of 1.20 and a beta of 0.32. The company has a current ratio of 2.74, a quick ratio of 1.70 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average of $81.16 and a 200-day moving average of $85.83. BioMarin Pharmaceutical Inc. has a fifty-two week low of $73.68 and a fifty-two week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.12. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. The business had revenue of $648.83 million during the quarter, compared to analyst estimates of $649.75 million. As a group, equities analysts expect that BioMarin Pharmaceutical Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Brian Mueller sold 5,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $75.19, for a total value of $375,950.00. Following the completion of the sale, the chief financial officer now owns 72,159 shares in the company, valued at $5,425,635.21. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Brian Mueller sold 5,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $75.19, for a total value of $375,950.00. Following the completion of the transaction, the chief financial officer now owns 72,159 shares of the company’s stock, valued at $5,425,635.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jean Jacques Bienaime sold 20,000 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $81.62, for a total value of $1,632,400.00. Following the completion of the transaction, the director now directly owns 474,994 shares of the company’s stock, valued at approximately $38,769,010.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,700 shares of company stock worth $5,209,352. 1.85% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Citigroup decreased their target price on BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Canaccord Genuity Group reduced their price objective on BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Robert W. Baird downgraded BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $104.00 to $72.00 in a research report on Friday, May 17th. Evercore ISI initiated coverage on BioMarin Pharmaceutical in a research report on Tuesday, May 14th. They issued an “outperform” rating and a $113.00 price objective on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $110.00 price objective on shares of BioMarin Pharmaceutical in a research report on Monday. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $102.00.

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.