Wealth Enhancement Advisory Services LLC Acquires 21,383 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Wealth Enhancement Advisory Services LLC grew its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 92.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,584 shares of the biotechnology company's stock after buying an additional 21,383 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in BioMarin Pharmaceutical were worth $3,152,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in BioMarin Pharmaceutical by 95.9% in the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock valued at $29,000 after acquiring an additional 211 shares in the last quarter. LRI Investments LLC increased its position in shares of BioMarin Pharmaceutical by 856.9% in the fourth quarter. LRI Investments LLC now owns 488 shares of the biotechnology company's stock worth $32,000 after purchasing an additional 437 shares during the period. SBI Securities Co. Ltd. acquired a new position in BioMarin Pharmaceutical in the fourth quarter valued at about $36,000. MassMutual Private Wealth & Trust FSB lifted 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 worth $37,000 after purchasing an additional 218 shares during the period. Finally, CIBC Private Wealth Group LLC lifted 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 worth $41,000 after purchasing an additional 233 shares during the period. Institutional investors and hedge funds own 98.71% of the company's stock.

Insider Buying and Selling at BioMarin Pharmaceutical

In related 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 value of $105,927.66. Following the transaction, the chief accounting officer directly owned 14,173 shares of the company's stock, valued at $840,600.63. The trade was a 11.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.85% of the company's stock.

BioMarin Pharmaceutical Trading Up 2.2%

Shares of BMRN stock traded up $1.22 during trading hours on Tuesday, hitting $56.19. 2,840,961 shares of the company's stock traded hands, compared to its average volume of 1,720,771. The stock has a market cap of $10.78 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 0.75 and a beta of 0.17. The stock's 50 day simple moving average is $58.21 and its 200 day simple moving average is $63.08. The company has a quick ratio of 3.49, a current ratio of 5.52 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical Inc. has a 12 month low of $52.93 and a 12 month high of $94.85.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BMRN shares. Citigroup decreased their target price 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. Wall Street Zen raised shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 25th. Finally, The Goldman Sachs Group lowered their price objective on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $93.45.

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.