ASR Vermogensbeheer N.V. Acquires New Shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

ASR Vermogensbeheer N.V. purchased a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,434 shares of the biotechnology company's stock, valued at approximately $313,000.

A number of other institutional investors and hedge funds also recently modified their holdings of BMRN. Farther Finance Advisors LLC boosted its position in BioMarin Pharmaceutical by 95.9% during the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock worth $29,000 after acquiring an additional 211 shares during the last quarter. LRI Investments LLC boosted its position in BioMarin Pharmaceutical by 856.9% during the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 437 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in BioMarin Pharmaceutical by 71.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock worth $37,000 after acquiring an additional 218 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in BioMarin Pharmaceutical during the 4th quarter worth approximately $62,000. Finally, Covestor Ltd boosted its position in BioMarin Pharmaceutical by 24.1% during the 4th quarter. Covestor Ltd now owns 1,278 shares of the biotechnology company's stock worth $84,000 after acquiring an additional 248 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BMRN. JPMorgan Chase & Co. upped their price objective on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Guggenheim upped their price objective on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Citigroup dropped their price objective on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. UBS Group upped their price objective on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, Wedbush reiterated an "outperform" rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Tuesday, August 5th. Six equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $93.17.

Insider Activity

In other news, CAO Erin Burkhart sold 1,786 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total transaction of $105,927.66. Following the sale, the chief accounting officer directly owned 14,173 shares of the company's stock, valued at approximately $840,600.63. This represents a 11.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.85% of the company's stock.

BioMarin Pharmaceutical Price Performance

Shares of BMRN traded down $0.26 during trading hours on Thursday, hitting $58.04. 1,184,039 shares of the company were exchanged, compared to its average volume of 1,939,876. The company has a market cap of $11.14 billion, a price-to-earnings ratio of 17.22, a P/E/G ratio of 0.73 and a beta of 0.18. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $94.85. The company has a quick ratio of 3.60, a current ratio of 5.56 and a debt-to-equity ratio of 0.10. The firm's fifty day moving average is $57.33 and its 200 day moving average is $61.64.

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.