Parcion Private Wealth LLC acquired a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,698 shares of the biotechnology company's stock, valued at approximately $332,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC boosted its holdings in shares of BioMarin Pharmaceutical by 515.8% in the 1st quarter. Larson Financial Group LLC now owns 2,266 shares of the biotechnology company's stock worth $160,000 after purchasing an additional 1,898 shares in the last quarter. Wealthfront Advisers LLC purchased a new position in shares of BioMarin Pharmaceutical in the 1st quarter worth about $288,000. Asahi Life Asset Management CO. LTD. purchased a new position in shares of BioMarin Pharmaceutical in the 1st quarter worth about $380,000. Signaturefd LLC boosted its holdings in shares of BioMarin Pharmaceutical by 19.1% in the 1st quarter. Signaturefd LLC now owns 2,191 shares of the biotechnology company's stock worth $155,000 after purchasing an additional 352 shares in the last quarter. Finally, ELCO Management Co. LLC purchased a new position in shares of BioMarin Pharmaceutical in the 1st quarter worth about $215,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.
BioMarin Pharmaceutical Stock Down 1.9%
BioMarin Pharmaceutical stock traded down $1.08 during trading hours on Friday, hitting $57.29. 1,740,774 shares of the stock traded hands, compared to its average volume of 1,755,118. The firm's 50-day moving average price is $57.24 and its two-hundred day moving average price is $62.43. The company has a current ratio of 5.52, a quick ratio of 3.49 and a debt-to-equity ratio of 0.10. The company has a market cap of $10.99 billion, a PE ratio of 21.30, a PEG ratio of 0.81 and a beta of 0.17. BioMarin Pharmaceutical Inc. has a one year low of $52.93 and a one year high of $94.85.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on BMRN shares. Wall Street Zen upgraded BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Friday, April 25th. The Goldman Sachs Group reduced 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. Citigroup reduced their price objective on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Morgan Stanley began coverage on BioMarin Pharmaceutical in a research note on Thursday, July 3rd. They set an "overweight" rating and a $97.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an "overweight" rating in a research note on Monday. Six research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of "Moderate Buy" and a consensus price target of $93.78.
Read Our Latest Analysis on BioMarin Pharmaceutical
Insiders Place Their Bets
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 stock was sold at an average price of $59.31, for a total transaction of $105,927.66. Following the sale, the chief accounting officer directly owned 14,173 shares of the company's stock, valued at approximately $840,600.63. The trade was a 11.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.85% of the company's stock.
About BioMarin Pharmaceutical
(
Free Report)
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.
Featured Stories
Before you consider BioMarin Pharmaceutical, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and BioMarin Pharmaceutical wasn't on the list.
While BioMarin Pharmaceutical currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
