Stratos Wealth Advisors LLC Has $2.52 Million Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Stratos Wealth Advisors LLC lessened its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 17.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,668 shares of the biotechnology company's stock after selling 7,774 shares during the period. Stratos Wealth Advisors LLC's holdings in BioMarin Pharmaceutical were worth $2,521,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC boosted its position in BioMarin Pharmaceutical by 95.9% during the first quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 211 shares during the last quarter. LRI Investments LLC boosted its position in BioMarin Pharmaceutical by 856.9% during the fourth 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 stake in BioMarin Pharmaceutical during the fourth quarter valued at $36,000. MassMutual Private Wealth & Trust FSB boosted its position in BioMarin Pharmaceutical by 71.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock valued at $37,000 after purchasing an additional 218 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in BioMarin Pharmaceutical by 64.2% during the fourth 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. Institutional investors and hedge funds own 98.71% of the company's stock.

BioMarin Pharmaceutical Stock Performance

BMRN stock traded down $0.72 during trading on Friday, reaching $58.10. 2,032,043 shares of the stock were exchanged, compared to its average volume of 1,752,132. BioMarin Pharmaceutical Inc. has a twelve month low of $52.93 and a twelve month high of $94.85. The company has a market capitalization of $11.14 billion, a P/E ratio of 21.60, a price-to-earnings-growth ratio of 0.80 and a beta of 0.17. The stock has a 50 day simple moving average of $57.43 and a 200-day simple moving average of $62.64. The company has a current ratio of 5.52, a quick ratio of 3.49 and a debt-to-equity ratio of 0.10.

Analyst Upgrades and Downgrades

BMRN has been the topic of several recent research reports. The Goldman Sachs Group cut their target price on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Wall Street Zen upgraded BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Friday, April 25th. Citigroup cut their target price on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Finally, Morgan Stanley initiated coverage on BioMarin Pharmaceutical in a report on Thursday, July 3rd. They set an "overweight" rating and a $97.00 target price on the stock. Six analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of "Moderate Buy" and an average price target of $93.61.

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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.85% of the company's stock.

BioMarin Pharmaceutical 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.