Callan Family Office LLC Raises Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Key Points

• Callan Family Office LLC increased its stake in BioMarin Pharmaceutical Inc. by 164.7% in Q1, now holding a total of 19,774 shares valued at approximately $1,398,000.
• Institutional investors own 98.71% of BioMarin Pharmaceutical's stock, indicating strong support and confidence in the company's performance.
• Multiple analysts have updated their price targets for BioMarin, with a consensus price target of $93.17 and most ratings suggesting a "Moderate Buy".

Callan Family Office LLC boosted its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 164.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,774 shares of the biotechnology company's stock after acquiring an additional 12,304 shares during the period. Callan Family Office LLC's holdings in BioMarin Pharmaceutical were worth $1,398,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BMRN. Nuveen LLC purchased a new stake in BioMarin Pharmaceutical during the first quarter valued at approximately $184,475,000. Capital Research Global Investors boosted its stake in BioMarin Pharmaceutical by 23.8% in the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company's stock worth $853,944,000 after purchasing an additional 2,496,817 shares in the last quarter. Soleus Capital Management L.P. acquired a new stake in BioMarin Pharmaceutical in the 4th quarter worth approximately $65,822,000. Dodge & Cox boosted its stake in BioMarin Pharmaceutical by 6.1% in the 4th quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company's stock worth $969,270,000 after purchasing an additional 847,917 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in BioMarin Pharmaceutical by 114.5% in the 4th quarter. AQR Capital Management LLC now owns 1,283,599 shares of the biotechnology company's stock worth $84,371,000 after purchasing an additional 685,099 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company's stock.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,786 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total transaction of $105,927.66. Following the transaction, the chief accounting officer owned 14,173 shares of the company's stock, valued at approximately $840,600.63. The trade was a 11.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.85% of the company's stock.

BioMarin Pharmaceutical Trading Down 0.8%

Shares of BMRN stock traded down $0.46 on Friday, hitting $57.54. 2,525,461 shares of the stock traded hands, compared to its average volume of 2,488,204. The firm's 50-day moving average price is $57.40 and its two-hundred day moving average price is $61.56. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 5.56. The stock has a market capitalization of $11.05 billion, a PE ratio of 17.07, a PEG ratio of 0.74 and a beta of 0.18. BioMarin Pharmaceutical Inc. has a twelve month low of $52.93 and a twelve month high of $94.85.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BMRN shares. JPMorgan Chase & Co. lifted their target price on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. The Goldman Sachs Group lowered their target price on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a research note on Monday, May 5th. 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 research note on Tuesday, August 5th. Morgan Stanley decreased their price objective on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating for the company in a research note on Tuesday, July 22nd. Finally, 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 research note on Wednesday, August 6th. Six research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $93.17.

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.