Edgestream Partners L.P. purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Free Report) 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.
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.
View Our Latest Report on BioMarin Pharmaceutical
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.
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