Sherbrooke Park Advisers LLC Buys Shares of 5,510 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Sherbrooke Park Advisers LLC bought a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 5,510 shares of the biotechnology company's stock, valued at approximately $362,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. LRI Investments LLC boosted its holdings in 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 purchasing an additional 437 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in BioMarin Pharmaceutical in the 4th quarter valued at about $36,000. CIBC Private Wealth Group LLC boosted its holdings in 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 purchasing an additional 233 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of BioMarin Pharmaceutical by 111.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company's stock worth $58,000 after acquiring an additional 466 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of BioMarin Pharmaceutical by 260.1% in the 4th quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company's stock worth $67,000 after acquiring an additional 736 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. UBS Group upped their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Friday, April 25th. Citigroup decreased their price objective on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Oppenheimer upgraded shares of BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price objective on the stock in a report on Monday, February 24th. Finally, Bank of America upped their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.45.

BioMarin Pharmaceutical Trading Up 1.7%

NASDAQ BMRN opened at $59.27 on Monday. 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's fifty day moving average price is $63.63 and its 200 day moving average price is $65.04. The company has a market capitalization of $11.37 billion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 0.61 and a beta of 0.27. BioMarin Pharmaceutical Inc. has a 12 month low of $52.93 and a 12 month high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.18. The firm had revenue of $747.31 million for the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. On average, sell-side analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Erin Burkhart sold 1,295 shares of the 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 completion of the sale, the chief accounting officer now owns 16,955 shares in the company, valued at $1,212,621.60. This represents a 7.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 2,912 shares of company stock worth $202,244 in the last 90 days. Company insiders own 0.85% of the company's stock.

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.

Want to see what other hedge funds are holding BMRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.