Edgestream Partners L.P. Sells 84,364 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Edgestream Partners L.P. reduced its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 58.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 60,632 shares of the biotechnology company's stock after selling 84,364 shares during the period. Edgestream Partners L.P.'s holdings in BioMarin Pharmaceutical were worth $4,286,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in BMRN. Farther Finance Advisors LLC increased its stake in shares of BioMarin Pharmaceutical by 95.9% in the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock valued at $29,000 after buying an additional 211 shares during the period. LRI Investments LLC increased its stake in shares of BioMarin Pharmaceutical by 856.9% in the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company's stock valued at $32,000 after buying an additional 437 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of BioMarin Pharmaceutical by 71.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock valued at $37,000 after buying an additional 218 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of BioMarin Pharmaceutical by 64.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock valued at $41,000 after buying an additional 233 shares during the period. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at $62,000. 98.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,786 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total value of $105,927.66. Following the sale, the chief accounting officer owned 14,173 shares in the company, valued at approximately $840,600.63. This represents a 11.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.85% of the company's stock.

BioMarin Pharmaceutical Stock Down 0.1%

NASDAQ BMRN traded down $0.03 during trading hours on Friday, hitting $58.34. 305,241 shares of the company traded hands, compared to its average volume of 1,749,618. The business's 50-day moving average is $57.24 and its 200-day moving average is $62.43. BioMarin Pharmaceutical Inc. has a twelve month low of $52.93 and a twelve 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. The stock has a market capitalization of $11.19 billion, a price-to-earnings ratio of 21.69, a P/E/G ratio of 0.81 and a beta of 0.17.

Analyst Upgrades and Downgrades

BMRN has been the subject of a number of analyst reports. Morgan Stanley initiated coverage on BioMarin Pharmaceutical in a research note on Thursday, July 3rd. They set an "overweight" rating and a $97.00 price objective for the company. The Goldman Sachs Group decreased their price objective 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. Wolfe Research set a $95.00 price objective on BioMarin Pharmaceutical and gave the stock an "outperform" rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price objective on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, Citigroup decreased their price objective 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 equities research 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 stock. According to data from MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of "Moderate Buy" and an average price target of $93.78.

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.