BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Purchased by Covea Finance

Covea Finance lifted its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 37.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 106,300 shares of the biotechnology company's stock after buying an additional 29,200 shares during the quarter. Covea Finance owned approximately 0.06% of BioMarin Pharmaceutical worth $7,514,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BMRN. Oregon Public Employees Retirement Fund lifted its holdings in shares of BioMarin Pharmaceutical by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company's stock worth $2,546,000 after buying an additional 164 shares in the last quarter. Freedom Investment Management Inc. increased its holdings in BioMarin Pharmaceutical by 3.8% in the 4th quarter. Freedom Investment Management Inc. now owns 5,022 shares of the biotechnology company's stock valued at $330,000 after acquiring an additional 184 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in BioMarin Pharmaceutical by 95.9% in the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 211 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of BioMarin Pharmaceutical by 71.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock valued at $37,000 after purchasing an additional 218 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of BioMarin Pharmaceutical by 64.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock valued at $41,000 after purchasing an additional 233 shares during the last quarter. Institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Stock Up 1.1%

NASDAQ:BMRN traded up $0.61 during mid-day trading on Tuesday, reaching $54.69. The company's stock had a trading volume of 2,268,243 shares, compared to its average volume of 1,725,092. The company has a quick ratio of 3.49, a current ratio of 5.52 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical Inc. has a 1 year low of $52.93 and a 1 year high of $94.85. The stock has a fifty day moving average of $58.77 and a 200-day moving average of $63.54. The firm has a market capitalization of $10.49 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 0.75 and a beta of 0.19.

Analyst Ratings Changes

A number of research firms recently commented on BMRN. 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 reduced their price objective on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Citigroup lowered their target price on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Finally, Oppenheimer upgraded shares of BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price target on the stock in a research report on Monday, February 24th. Six analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of "Moderate Buy" and an average target price of $93.45.

Insiders Place Their Bets

In other BioMarin Pharmaceutical 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 value of $105,927.66. Following the completion of the transaction, the chief accounting officer now directly owns 14,173 shares in the company, valued at approximately $840,600.63. The trade was a 11.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.85% of the stock is owned by company insiders.

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.