Vanguard Group Inc. Sells 368,973 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Vanguard Group Inc. reduced its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 1.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,003,212 shares of the biotechnology company's stock after selling 368,973 shares during the quarter. Vanguard Group Inc. owned about 9.91% of BioMarin Pharmaceutical worth $1,343,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of BMRN. Farther Finance Advisors LLC raised its stake in BioMarin Pharmaceutical by 95.9% in 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 in the last quarter. LRI Investments LLC raised its stake in BioMarin Pharmaceutical by 856.9% in 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 in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake 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 valued at $37,000 after purchasing an additional 218 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new stake in BioMarin Pharmaceutical in the fourth quarter valued at approximately $62,000. Finally, Covestor Ltd raised its stake in BioMarin Pharmaceutical by 24.1% in the fourth quarter. Covestor Ltd now owns 1,278 shares of the biotechnology company's stock valued at $84,000 after purchasing an additional 248 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total transaction of $105,927.66. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.85% of the company's stock.

Wall Street Analysts Forecast Growth

BMRN has been the topic of a number of recent analyst reports. Wedbush reaffirmed an "outperform" rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, August 5th. Morgan Stanley decreased their price target on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 22nd. Guggenheim lifted their price target on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price target on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Finally, UBS Group lifted their price target on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Six equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $93.17.

BioMarin Pharmaceutical Trading Down 0.5%

BioMarin Pharmaceutical stock traded down $0.29 during mid-day trading on Friday, reaching $57.71. 345,689 shares of the company traded hands, compared to its average volume of 1,932,298. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.60. The firm's 50 day moving average price is $57.39 and its 200 day moving average price is $61.61. The firm has a market capitalization of $11.08 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 0.75 and a beta of 0.18. BioMarin Pharmaceutical Inc. has a 52-week low of $52.93 and a 52-week high of $94.85.

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.