CFO4Life Group LLC Buys Shares of 7,913 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

CFO4Life Group LLC purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 7,913 shares of the biotechnology company's stock, valued at approximately $559,000.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted 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 acquiring an additional 93,531 shares in the last quarter. Dodge & Cox lifted its position 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 during the last quarter. Capital Research Global Investors lifted its position in shares of BioMarin Pharmaceutical by 23.8% during 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 during the last quarter. Norges Bank acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth about $234,645,000. Finally, Geode Capital Management LLC lifted its position in shares of BioMarin Pharmaceutical by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 3,288,778 shares of the biotechnology company's stock worth $215,784,000 after purchasing an additional 28,728 shares during the last quarter. Institutional investors own 98.71% of the company's stock.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was 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 in the company, valued at approximately $840,600.63. This trade represents a 11.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.85% of the company's stock.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $59.67 on Thursday. The business's 50-day simple moving average is $57.58 and its 200 day simple moving average is $62.78. The stock has a market cap of $11.44 billion, a price-to-earnings ratio of 22.18, a P/E/G 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. The company has a quick ratio of 3.49, a current ratio of 5.52 and a debt-to-equity ratio of 0.10.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Morgan Stanley began coverage on BioMarin Pharmaceutical in a research report on Thursday, July 3rd. They set an "overweight" rating and a $97.00 price objective for the company. Wall Street Zen upgraded BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 25th. The Goldman Sachs Group cut their target price on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Finally, Citigroup cut their target price on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Six 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.61.

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.

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