Connor Clark & Lunn Investment Management Ltd. increased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 46.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 521,349 shares of the biotechnology company's stock after acquiring an additional 164,853 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.27% of BioMarin Pharmaceutical worth $36,854,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Farther Finance Advisors LLC increased 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 valued at $29,000 after purchasing an additional 211 shares during the period. LRI Investments LLC lifted its stake in shares of 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 grew its stake 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 valued at $37,000 after purchasing an additional 218 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at approximately $62,000. Finally, Covestor Ltd boosted its holdings in BioMarin Pharmaceutical by 24.1% in the fourth quarter. Covestor Ltd now owns 1,278 shares of the biotechnology company's stock valued at $84,000 after purchasing an additional 248 shares during the period. 98.71% of the stock is owned by institutional investors.
Insider Buying and Selling
In other news, CAO Erin Burkhart sold 1,786 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total value of $105,927.66. Following the transaction, the chief accounting officer owned 14,173 shares in the company, valued at $840,600.63. This trade 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 hyperlink. 0.85% of the stock is owned by corporate insiders.
BioMarin Pharmaceutical Stock Performance
BMRN traded down $0.53 during trading on Monday, hitting $56.80. The stock had a trading volume of 1,907,886 shares, compared to its average volume of 2,383,202. The company has a 50 day moving average price of $57.29 and a 200-day moving average price of $61.70. The firm has a market cap of $10.91 billion, a price-to-earnings ratio of 16.85, a P/E/G ratio of 0.74 and a beta of 0.18. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.60. BioMarin Pharmaceutical Inc. has a one year low of $52.93 and a one year high of $94.85.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Wall Street Zen upgraded BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Saturday. Guggenheim increased their target price on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Wolfe Research set a $95.00 price objective on shares of BioMarin Pharmaceutical and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Morgan Stanley dropped their target price on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 22nd. Finally, Citigroup cut their target price on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.17.
Read Our Latest Stock Report on BioMarin Pharmaceutical
BioMarin Pharmaceutical Profile
(
Free Report)
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.
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