BioMarin Pharmaceutical Inc. $BMRN Shares Bought by First Trust Advisors LP

First Trust Advisors LP grew its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 43.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,672,491 shares of the biotechnology company's stock after purchasing an additional 505,692 shares during the period. First Trust Advisors LP owned approximately 0.87% of BioMarin Pharmaceutical worth $94,479,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Viking Global Investors LP increased its holdings in shares of BioMarin Pharmaceutical by 13.8% during the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company's stock valued at $675,505,000 after purchasing an additional 1,488,552 shares during the period. Norges Bank acquired a new stake in BioMarin Pharmaceutical in the fourth quarter worth about $447,572,000. AQR Capital Management LLC lifted its holdings in BioMarin Pharmaceutical by 12.7% in the fourth quarter. AQR Capital Management LLC now owns 6,686,916 shares of the biotechnology company's stock worth $395,197,000 after purchasing an additional 754,807 shares during the period. Dimensional Fund Advisors LP grew its position in BioMarin Pharmaceutical by 14.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,802,930 shares of the biotechnology company's stock valued at $214,804,000 after buying an additional 481,176 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in BioMarin Pharmaceutical by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 3,674,089 shares of the biotechnology company's stock valued at $218,395,000 after buying an additional 131,969 shares in the last quarter. Institutional investors own 98.71% of the company's stock.

Analysts Set New Price Targets

BMRN has been the topic of a number of recent analyst reports. Sanford C. Bernstein dropped their price target on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 5th. Morgan Stanley lowered their price objective on shares of BioMarin Pharmaceutical from $120.00 to $119.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 5th. Wall Street Zen cut BioMarin Pharmaceutical from a "buy" rating to a "hold" rating in a report on Saturday, June 6th. HC Wainwright reissued a "neutral" rating on shares of BioMarin Pharmaceutical in a report on Tuesday, July 14th. Finally, Weiss Ratings upgraded BioMarin Pharmaceutical from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.26.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $59.33 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.81 and a quick ratio of 4.20. The firm's 50 day moving average is $56.54 and its 200-day moving average is $56.84. BioMarin Pharmaceutical Inc. has a 12-month low of $49.26 and a 12-month high of $66.28. The stock has a market capitalization of $11.47 billion, a P/E ratio of 43.31, a P/E/G ratio of 0.45 and a beta of 0.24.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of the company's stock in a transaction 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 transaction, the executive vice president 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.68% of the company's stock.

About BioMarin Pharmaceutical

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.

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