Worldquant Millennium Advisors LLC Increases Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Worldquant Millennium Advisors LLC grew its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 337.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 278,118 shares of the biotechnology company's stock after purchasing an additional 214,546 shares during the period. Worldquant Millennium Advisors LLC owned about 0.15% of BioMarin Pharmaceutical worth $18,281,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in BMRN. LRI Investments LLC increased its stake 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 buying an additional 437 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at approximately $36,000. CIBC Private Wealth Group LLC increased its position in shares of 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 acquiring an additional 233 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of BioMarin Pharmaceutical by 111.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company's stock valued at $58,000 after acquiring an additional 466 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC bought a new stake in BioMarin Pharmaceutical during the fourth quarter worth $62,000. 98.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on BMRN. The Goldman Sachs Group reduced their price objective on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Citigroup reduced their price target on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Wedbush reaffirmed an "outperform" rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $70.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, Wall Street Zen raised shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 25th. Six 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $93.45.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ BMRN traded down $0.46 during mid-day trading on Monday, hitting $57.55. The company had a trading volume of 1,732,309 shares, compared to its average volume of 1,866,614. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 1 year low of $52.93 and a 1 year high of $94.85. The company has a market capitalization of $11.04 billion, a price-to-earnings ratio of 26.16, a P/E/G ratio of 0.61 and a beta of 0.27. The stock's 50-day moving average price is $62.42 and its 200-day moving average price is $64.77.

Insiders Place Their Bets

In related news, CAO Erin Burkhart sold 1,786 shares of the company's stock in a transaction that occurred 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 sale, the chief accounting officer now owns 14,173 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Insiders sold a total of 3,354 shares of company stock worth $216,269 in the last quarter. 0.85% of the stock is owned by company insiders.

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.