Davis Investment Partners LLC Buys Shares of 8,940 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Davis Investment Partners LLC bought a new stake 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 and Exchange Commission. The firm bought 8,940 shares of the biotechnology company's stock, valued at approximately $632,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vestal Point Capital LP lifted its holdings in shares of BioMarin Pharmaceutical by 115.0% during the 4th quarter. Vestal Point Capital LP now owns 860,000 shares of the biotechnology company's stock valued at $56,528,000 after purchasing an additional 460,000 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of BioMarin Pharmaceutical by 2.0% during the 4th quarter. Rhumbline Advisers now owns 556,255 shares of the biotechnology company's stock valued at $36,563,000 after purchasing an additional 11,025 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at $257,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 3.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 470,043 shares of the biotechnology company's stock valued at $30,896,000 after purchasing an additional 13,946 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of BioMarin Pharmaceutical by 111.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company's stock valued at $58,000 after purchasing an additional 466 shares during the last quarter. Institutional investors own 98.71% of the company's stock.

Insider Activity

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the completion of the transaction, the chief accounting officer now directly owns 16,955 shares of the company's stock, valued at approximately $1,212,621.60. This trade represents a 7.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 3,354 shares of company stock worth $216,269 in the last 90 days. 0.85% of the stock is currently owned by corporate insiders.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock traded up $0.12 during trading hours on Thursday, reaching $57.28. 1,428,327 shares of the company's stock were exchanged, compared to its average volume of 1,841,167. The company has a market cap of $10.98 billion, a P/E ratio of 26.04, a price-to-earnings-growth ratio of 0.61 and a beta of 0.19. The company's 50 day moving average is $59.14 and its two-hundred day moving average is $64.11. BioMarin Pharmaceutical Inc. has a 1 year low of $52.93 and a 1 year high of $94.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Oppenheimer upgraded BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 target price for the company in a research note on Monday, February 24th. Scotiabank raised their target price on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 20th. Bank of America raised their target price on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. The Goldman Sachs Group reduced their target price on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Finally, Wedbush reaffirmed an "outperform" rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a research 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 given a strong buy rating to the company's stock. According to MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of "Moderate Buy" and an average price target of $93.45.

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.