Cwm LLC Purchases 33,746 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

CWM LLC increased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 128.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,061 shares of the biotechnology company's stock after acquiring an additional 33,746 shares during the quarter. CWM LLC's holdings in BioMarin Pharmaceutical were worth $4,246,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BMRN. Norges Bank acquired a new stake in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $234,645,000. Capital Research Global Investors increased its stake in BioMarin Pharmaceutical by 23.8% in the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company's stock valued at $853,944,000 after buying an additional 2,496,817 shares during the period. Soleus Capital Management L.P. acquired a new position in BioMarin Pharmaceutical in the 4th quarter valued at approximately $65,822,000. Dodge & Cox increased its stake in BioMarin Pharmaceutical by 6.1% in the 4th quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company's stock valued at $969,270,000 after buying an additional 847,917 shares during the period. Finally, AQR Capital Management LLC increased its stake in BioMarin Pharmaceutical by 114.5% in the 4th quarter. AQR Capital Management LLC now owns 1,283,599 shares of the biotechnology company's stock valued at $84,371,000 after buying an additional 685,099 shares during the period. Institutional investors and hedge funds own 98.71% of the company's stock.

Insider Activity

In related news, CAO Erin Burkhart sold 1,786 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total transaction of $105,927.66. Following the completion of the sale, the chief accounting officer owned 14,173 shares in the company, valued at $840,600.63. This trade represents a 11.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.85% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on BMRN. JPMorgan Chase & Co. boosted their target price on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a research report on Monday. Wolfe Research set a $95.00 target price on shares of BioMarin Pharmaceutical and gave the stock an "outperform" rating in a research report on Tuesday. The Goldman Sachs Group decreased their target price on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Citigroup decreased their target price 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. Finally, Wall Street Zen raised shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 25th. Six research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $93.78.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN traded down $1.08 during midday trading on Friday, reaching $57.29. 1,740,441 shares of the company's stock were exchanged, compared to its average volume of 1,755,116. The company's 50 day simple moving average is $57.24 and its two-hundred day simple moving average is $62.43. The firm has a market capitalization of $10.99 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 0.81 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 debt-to-equity ratio of 0.10, a quick ratio of 3.49 and a current ratio of 5.52.

BioMarin Pharmaceutical Company 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.