CFO4Life Group LLC Purchases 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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,913 shares of the biotechnology company's stock, valued at approximately $559,000.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of BioMarin Pharmaceutical by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company's stock valued at $1,273,334,000 after purchasing an additional 93,531 shares during the period. Dodge & Cox grew its position in BioMarin Pharmaceutical by 6.1% during the fourth quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company's stock valued at $969,270,000 after acquiring an additional 847,917 shares during the period. Capital Research Global Investors grew 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 valued at $853,944,000 after acquiring an additional 2,496,817 shares during the period. Norges Bank purchased a new stake in BioMarin Pharmaceutical during the fourth quarter valued at about $234,645,000. Finally, Geode Capital Management LLC grew 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 valued at $215,784,000 after acquiring an additional 28,728 shares during the period. Hedge funds and other institutional investors own 98.71% of the company's stock.

Insider Activity

In related news, CAO Erin Burkhart sold 1,786 shares of the firm's stock in a transaction that occurred 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 owned 14,173 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.85% of the stock is owned by company insiders.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN traded down $0.64 during trading hours on Friday, hitting $58.18. 902,605 shares of the company's stock traded hands, compared to its average volume of 1,744,853. BioMarin Pharmaceutical Inc. has a 52 week low of $52.93 and a 52 week high of $94.85. 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's fifty day simple moving average is $57.51 and its two-hundred day simple moving average is $62.73. The company has a market cap of $11.16 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 0.82 and a beta of 0.17.

Analyst Upgrades and Downgrades

BMRN has been the subject of a number of research reports. Wall Street Zen raised BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 25th. Citigroup lowered their price objective 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. The Goldman Sachs Group reduced their target price on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Finally, Morgan Stanley initiated coverage on shares of BioMarin Pharmaceutical in a research report on Thursday, July 3rd. They set an "overweight" rating and a $97.00 target price on the stock. Six investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $93.61.

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.