GAMMA Investing LLC Purchases 219,957 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

GAMMA Investing LLC raised its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 17,853.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,189 shares of the biotechnology company's stock after acquiring an additional 219,957 shares during the quarter. GAMMA Investing LLC owned about 0.12% of BioMarin Pharmaceutical worth $15,636,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. LRI Investments LLC raised its position in shares of BioMarin Pharmaceutical by 856.9% during the fourth quarter. LRI Investments LLC now owns 488 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 437 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in BioMarin Pharmaceutical by 71.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock worth $37,000 after purchasing an additional 218 shares during the period. SBI Securities Co. Ltd. acquired a new stake in BioMarin Pharmaceutical in the fourth quarter worth about $36,000. CIBC Private Wealth Group LLC raised its holdings in BioMarin Pharmaceutical by 64.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock worth $41,000 after purchasing an additional 233 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in BioMarin Pharmaceutical by 111.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company's stock valued at $58,000 after purchasing an additional 466 shares during the period. 98.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BMRN shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Scotiabank raised their price objective on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a research note on Thursday, February 20th. The Goldman Sachs Group lowered their target price on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a report on Monday, May 5th. Bank of America upped their target price on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Finally, UBS Group increased their price target on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $93.45.

BioMarin Pharmaceutical Stock Up 1.1%

Shares of BMRN traded up $0.60 on Tuesday, hitting $57.48. The company's stock had a trading volume of 1,709,451 shares, compared to its average volume of 1,854,567. The firm's fifty day moving average price is $59.20 and its 200-day moving average price is $64.16. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $94.85. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $11.02 billion, a price-to-earnings ratio of 26.13, a P/E/G ratio of 0.61 and a beta of 0.19.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total transaction of $92,618.40. Following the sale, the chief accounting officer now directly owns 16,955 shares in the company, valued at $1,212,621.60. This trade represents a 7.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 3,354 shares of company stock valued at $216,269. 0.85% of the stock is currently owned by corporate insiders.

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.