Focus Partners Wealth Invests $480,000 in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Focus Partners Wealth bought a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,941 shares of the biotechnology company's stock, valued at approximately $480,000.

Other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in shares of BioMarin Pharmaceutical in the 4th quarter worth $36,000. CIBC Private Wealth Group LLC grew its stake in shares of BioMarin Pharmaceutical by 64.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock worth $41,000 after buying an additional 233 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of BioMarin Pharmaceutical by 111.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company's stock worth $58,000 after buying an additional 466 shares in the last quarter. UMB Bank n.a. grew its stake in shares of BioMarin Pharmaceutical by 260.1% in the 4th quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company's stock worth $67,000 after buying an additional 736 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of BioMarin Pharmaceutical by 27.5% during the 4th quarter. Blue Trust Inc. now owns 1,095 shares of the biotechnology company's stock worth $77,000 after purchasing an additional 236 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Down 0.8%

BMRN traded down $0.46 during trading hours on Friday, hitting $57.55. 1,732,309 shares of the company's stock were exchanged, compared to its average volume of 1,867,263. BioMarin Pharmaceutical Inc. has a 1-year low of $52.93 and a 1-year high of $94.85. The stock's 50-day moving average is $62.42 and its two-hundred day moving average is $64.80. The stock has a market cap of $11.04 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 0.61 and a beta of 0.27. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The firm had revenue of $747.31 million for the quarter, compared to the consensus estimate of $711.05 million. Sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on BMRN shares. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $70.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Citigroup decreased their price objective on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Scotiabank lifted their price objective on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a report on Thursday, February 20th. UBS Group lifted their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Finally, Piper Sandler lifted their price objective on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of "Moderate Buy" and an average price target of $93.45.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total transaction of $105,927.66. Following the sale, the chief accounting officer now directly owns 14,173 shares of the company's stock, valued at $840,600.63. This represents a 11.19% 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 link. Over the last 90 days, insiders sold 4,698 shares of company stock worth $308,172. 0.85% of the stock is owned by company insiders.

BioMarin Pharmaceutical 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.