CFO4Life Group LLC Takes $559,000 Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

CFO4Life Group LLC purchased a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 7,913 shares of the biotechnology company's stock, valued at approximately $559,000.

Several other institutional investors have also added to or reduced their stakes in the company. Vestal Point Capital LP boosted its holdings in shares of BioMarin Pharmaceutical by 115.0% in the 4th quarter. Vestal Point Capital LP now owns 860,000 shares of the biotechnology company's stock worth $56,528,000 after purchasing an additional 460,000 shares during the period. GAMMA Investing LLC boosted its holdings in BioMarin Pharmaceutical by 154.0% during the 1st quarter. GAMMA Investing LLC now owns 3,129 shares of the biotechnology company's stock valued at $221,000 after acquiring an additional 1,897 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in BioMarin Pharmaceutical by 12.3% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 97,261 shares of the biotechnology company's stock valued at $6,875,000 after acquiring an additional 10,687 shares during the period. Natixis Advisors LLC purchased a new position in BioMarin Pharmaceutical during the 4th quarter valued at $1,297,000. Finally, Asset Management One Co. Ltd. raised its position in BioMarin Pharmaceutical by 5.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 80,879 shares of the biotechnology company's stock valued at $5,717,000 after purchasing an additional 4,094 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

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

BioMarin Pharmaceutical Price Performance

NASDAQ BMRN traded down $0.72 during trading hours on Friday, reaching $58.10. The company's stock had a trading volume of 2,032,043 shares, compared to its average volume of 1,752,132. The firm has a market capitalization of $11.14 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 0.80 and a beta of 0.17. BioMarin Pharmaceutical Inc. has a 1-year low of $52.93 and a 1-year high of $94.85. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.52 and a quick ratio of 3.49. The company's 50-day moving average is $57.43 and its two-hundred day moving average is $62.61.

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.