Oppenheimer & Co. Inc. Takes Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Oppenheimer & Co. Inc. bought a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 5,411 shares of the biotechnology company's stock, valued at approximately $383,000.

Other hedge funds have also recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of BioMarin Pharmaceutical in the 1st quarter worth approximately $388,000. Kentucky Retirement Systems bought a new position in BioMarin Pharmaceutical in the first quarter worth $911,000. Covea Finance increased its holdings in BioMarin Pharmaceutical by 37.9% in the 1st quarter. Covea Finance now owns 106,300 shares of the biotechnology company's stock valued at $7,514,000 after buying an additional 29,200 shares during the period. State of Alaska Department of Revenue raised its stake in shares of BioMarin Pharmaceutical by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 22,335 shares of the biotechnology company's stock valued at $1,578,000 after buying an additional 605 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of BioMarin Pharmaceutical by 56.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,016 shares of the biotechnology company's stock valued at $849,000 after buying an additional 4,345 shares in the last quarter. 98.71% of the stock is owned by institutional investors.

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,786 shares of BioMarin Pharmaceutical stock in a transaction dated Tuesday, May 20th. The stock was 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 directly owned 14,173 shares in the company, valued at $840,600.63. This trade represents a 11.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.85% of the stock is currently owned by corporate insiders.

BioMarin Pharmaceutical Trading Up 0.1%

BMRN traded up $0.08 during mid-day trading on Friday, reaching $57.25. The stock had a trading volume of 1,376,747 shares, compared to its average volume of 1,734,996. The stock has a market capitalization of $10.98 billion, a P/E ratio of 21.28, a P/E/G ratio of 0.79 and a beta of 0.17. BioMarin Pharmaceutical Inc. has a 52 week low of $52.93 and a 52 week 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 firm's fifty day simple moving average is $57.88 and its two-hundred day simple moving average is $62.92.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Citigroup lowered their target price on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. The Goldman Sachs Group lowered 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. Wall Street Zen upgraded BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Morgan Stanley initiated coverage on BioMarin Pharmaceutical in a research note on Thursday. They issued an "overweight" rating and a $97.00 price target on the stock. Six investment 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $93.61.

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.