Cerity Partners LLC Has $6 Million Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Cerity Partners LLC increased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 203.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,832 shares of the biotechnology company's stock after purchasing an additional 56,897 shares during the period. Cerity Partners LLC's holdings in BioMarin Pharmaceutical were worth $5,997,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BMRN. Vanguard Group Inc. increased its stake in shares of BioMarin Pharmaceutical by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company's stock worth $1,273,334,000 after purchasing an additional 93,531 shares in the last quarter. Dodge & Cox increased its stake in shares of BioMarin Pharmaceutical by 6.1% during 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. Capital Research Global Investors boosted its position in BioMarin Pharmaceutical by 23.8% during the fourth quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company's stock worth $853,944,000 after acquiring an additional 2,496,817 shares during the last quarter. Norges Bank acquired a new stake in BioMarin Pharmaceutical during the fourth quarter worth approximately $234,645,000. Finally, Geode Capital Management LLC boosted its position in BioMarin Pharmaceutical by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 3,288,778 shares of the biotechnology company's stock worth $215,784,000 after acquiring an additional 28,728 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on BMRN. Wall Street Zen lowered shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a report on Friday. JPMorgan Chase & Co. upped their price target on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Citigroup decreased their price target 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. Morgan Stanley began coverage on shares of BioMarin Pharmaceutical in a research report on Thursday, July 3rd. They set an "overweight" rating and a $97.00 price target for the company. Finally, Wolfe Research set a $95.00 price target on shares of BioMarin Pharmaceutical and gave the stock an "outperform" rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.78.

BioMarin Pharmaceutical Trading Down 1.9%

BMRN traded down $1.08 during trading on Friday, reaching $57.29. The company had a trading volume of 1,740,774 shares, compared to its average volume of 1,756,379. The firm's 50-day simple moving average is $57.21 and its 200 day simple moving average is $62.35. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.49 and a current ratio of 5.52. The company has a market cap of $10.99 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 0.79 and a beta of 0.17. BioMarin Pharmaceutical Inc. has a 12-month low of $52.93 and a 12-month high of $94.85.

Insider Activity at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,786 shares of the business's stock in a transaction on 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 directly owned 14,173 shares in the company, valued at $840,600.63. The trade was a 11.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.85% of the company's stock.

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.