4,531 Shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Bought by Forum Financial Management LP

Forum Financial Management LP acquired a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 4,531 shares of the biotechnology company's stock, valued at approximately $298,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Swedbank AB lifted its position in BioMarin Pharmaceutical by 11.2% during the fourth quarter. Swedbank AB now owns 432,122 shares of the biotechnology company's stock valued at $28,403,000 after purchasing an additional 43,593 shares during the period. Vestal Point Capital LP raised its position in shares of BioMarin Pharmaceutical by 115.0% in the fourth quarter. Vestal Point Capital LP now owns 860,000 shares of the biotechnology company's stock worth $56,528,000 after acquiring an additional 460,000 shares during the period. Rhumbline Advisers raised its position in shares of BioMarin Pharmaceutical by 2.0% in the fourth quarter. Rhumbline Advisers now owns 556,255 shares of the biotechnology company's stock worth $36,563,000 after acquiring an additional 11,025 shares during the period. Mediolanum International Funds Ltd acquired a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth about $1,237,000. Finally, Empowered Funds LLC acquired a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth about $257,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of BioMarin Pharmaceutical stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 14,173 shares in the company, valued at $840,600.63. The trade was a 11.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 3,354 shares of company stock worth $216,269. 0.85% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BMRN has been the subject of a number of research reports. Scotiabank boosted their target price on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 20th. Piper Sandler boosted their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Bank of America upped their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Wedbush reaffirmed an "outperform" rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, UBS Group upped their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $93.45.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock traded down $0.56 during trading hours on Friday, reaching $57.99. The stock had a trading volume of 2,312,260 shares, compared to its average volume of 1,877,351. The firm has a market capitalization of $11.12 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 0.61 and a beta of 0.27. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The firm has a 50-day simple moving average of $61.35 and a 200-day simple moving average of $64.56. BioMarin Pharmaceutical Inc. has a twelve month low of $52.93 and a twelve month high of $94.85.

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.