Wealth Enhancement Advisory Services LLC Has $1.53 Million Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Wealth Enhancement Advisory Services LLC lifted its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 295.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,201 shares of the biotechnology company's stock after buying an additional 17,340 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in BioMarin Pharmaceutical were worth $1,525,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in BioMarin Pharmaceutical by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company's stock worth $1,273,334,000 after purchasing an additional 93,531 shares during the last quarter. Dodge & Cox raised its holdings in BioMarin Pharmaceutical by 6.1% during the 4th quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company's stock worth $969,270,000 after purchasing an additional 847,917 shares during the last quarter. Capital Research Global Investors raised its holdings in BioMarin Pharmaceutical by 23.8% during the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company's stock worth $853,944,000 after purchasing an additional 2,496,817 shares during the last quarter. Norges Bank bought a new stake in BioMarin Pharmaceutical during the 4th quarter worth about $234,645,000. Finally, Geode Capital Management LLC raised its holdings in BioMarin Pharmaceutical by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 3,288,778 shares of the biotechnology company's stock worth $215,784,000 after purchasing an additional 28,728 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of the company's 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 completion of the transaction, the chief accounting officer now owns 14,173 shares of the company's stock, valued at $840,600.63. This represents a 11.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 3,354 shares of company stock valued at $216,269 in the last quarter. 0.85% of the stock is currently owned by insiders.

BioMarin Pharmaceutical Stock Up 2.5%

NASDAQ:BMRN traded up $1.38 during trading hours on Friday, reaching $56.65. 2,125,020 shares of the stock were exchanged, compared to its average volume of 1,871,755. BioMarin Pharmaceutical Inc. has a twelve month low of $52.93 and a twelve month high of $94.85. 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 has a 50 day moving average of $59.63 and a 200 day moving average of $64.25. The stock has a market cap of $10.86 billion, a PE ratio of 25.75, a PEG ratio of 0.61 and a beta of 0.19.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BMRN shares. Bank of America boosted their price objective on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Piper Sandler upped their price target on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. UBS Group upped their price target on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Finally, Citigroup lowered their price target on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Six equities research 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. According to MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of "Moderate Buy" and an average 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.