First Trust Advisors LP Has $94.48 Million Position in BioMarin Pharmaceutical Inc. $BMRN

First Trust Advisors LP boosted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 43.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,672,491 shares of the biotechnology company’s stock after buying an additional 505,692 shares during the period. First Trust Advisors LP’s holdings in BioMarin Pharmaceutical were worth $94,479,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BMRN. PNC Financial Services Group Inc. raised its holdings in shares of BioMarin Pharmaceutical by 5.2% during the first quarter. PNC Financial Services Group Inc. now owns 14,589 shares of the biotechnology company’s stock worth $824,000 after acquiring an additional 719 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in BioMarin Pharmaceutical by 14.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,802,930 shares of the biotechnology company’s stock valued at $214,804,000 after acquiring an additional 481,176 shares during the last quarter. Parallel Advisors LLC grew its position in BioMarin Pharmaceutical by 33.9% in the first quarter. Parallel Advisors LLC now owns 1,768 shares of the biotechnology company’s stock worth $100,000 after acquiring an additional 448 shares in the last quarter. SEB Asset Management AB bought a new stake in BioMarin Pharmaceutical in the first quarter worth approximately $16,567,000. Finally, Swiss National Bank increased its stake in shares of BioMarin Pharmaceutical by 0.4% during the 1st quarter. Swiss National Bank now owns 361,100 shares of the biotechnology company’s stock worth $20,399,000 after purchasing an additional 1,500 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

NASDAQ BMRN opened at $59.33 on Friday. BioMarin Pharmaceutical Inc. has a twelve month low of $49.26 and a twelve month high of $66.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.20 and a current ratio of 5.81. The stock has a market capitalization of $11.47 billion, a PE ratio of 43.31, a P/E/G ratio of 0.45 and a beta of 0.24. The stock has a 50-day simple moving average of $56.54 and a 200 day simple moving average of $56.84.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BMRN shares. Morgan Stanley lowered their target price on shares of BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. Citigroup increased their price objective on BioMarin Pharmaceutical from $75.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Canaccord Genuity Group cut their price objective on BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Royal Bank Of Canada reduced their target price on BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating for the company in a report on Tuesday, July 7th. Finally, UBS Group reissued a “neutral” rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus price target of $88.26.

Insider Activity at BioMarin Pharmaceutical

In other news, EVP Gregory R. Friberg sold 3,281 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $53.85, for a total value of $176,681.85. Following the completion of the sale, the executive vice president directly owned 51,818 shares of the company’s stock, valued at approximately $2,790,399.30. This represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.68% of the stock is currently owned by company insiders.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.