New Age Alpha Advisors LLC Increases Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Key Points

• New Age Alpha Advisors LLC significantly increased its stake in BioMarin Pharmaceutical by 347.3% in Q1, owning 104,777 shares valued at approximately $7.4 million.
• BioMarin reported an Earnings Per Share (EPS) of $1.23, exceeding expectations of $1.02, with quarterly revenue of $825 million.
• Analysts have mixed ratings on BioMarin stock, with a consensus rating of "Moderate Buy" and a target price of approximately $93.74.

New Age Alpha Advisors LLC raised its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 347.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,777 shares of the biotechnology company's stock after buying an additional 81,355 shares during the quarter. New Age Alpha Advisors LLC owned 0.05% of BioMarin Pharmaceutical worth $7,407,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Farther Finance Advisors LLC boosted its stake in shares of BioMarin Pharmaceutical by 95.9% in 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 last quarter. LRI Investments LLC raised its holdings 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 buying an additional 437 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings 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 buying an additional 218 shares during the period. CIBC Private Wealth Group LLC raised its holdings in BioMarin Pharmaceutical by 64.2% during 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 during the period. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in BioMarin Pharmaceutical during the 4th quarter worth approximately $62,000. Institutional investors own 98.71% of the company's stock.

Analyst Ratings Changes

BMRN has been the topic of a number of recent research reports. Wolfe Research set a $95.00 price objective on shares of BioMarin Pharmaceutical and gave the company an "outperform" rating in a report on Tuesday, July 15th. UBS Group lifted their price objective on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday. The Goldman Sachs Group lowered their price objective on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Guggenheim lifted their price objective on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Morgan Stanley lowered their target price on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd. Six analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $93.17.

Insider Activity

In related 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 value of $105,927.66. Following the transaction, the chief accounting officer directly owned 14,173 shares in the company, valued at $840,600.63. This trade represents a 11.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.85% of the stock is currently owned by corporate insiders.

BioMarin Pharmaceutical Trading Down 2.0%

BMRN stock traded down $1.21 during trading on Thursday, hitting $59.46. The company had a trading volume of 2,103,633 shares, compared to its average volume of 2,286,938. The stock has a market cap of $11.40 billion, a PE ratio of 17.64, a PEG ratio of 0.84 and a beta of 0.18. BioMarin Pharmaceutical Inc. has a one year low of $52.93 and a one year high of $94.85. The business has a 50-day moving average of $57.29 and a 200-day moving average of $61.79. The company has a current ratio of 5.56, a quick ratio of 3.49 and a debt-to-equity ratio of 0.10.

About BioMarin Pharmaceutical

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.