Allred Capital Management LLC acquired a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 600 shares of the biotechnology company’s stock, valued at approximately $51,000.
Several other hedge funds and other institutional investors also recently modified their holdings of BMRN. Nuveen Asset Management LLC acquired a new stake in BioMarin Pharmaceutical during the second quarter worth about $258,055,000. York Capital Management Global Advisors LLC purchased a new position in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $95,648,000. Manning & Napier Group LLC lifted its position in shares of BioMarin Pharmaceutical by 50.7% in the fourth quarter. Manning & Napier Group LLC now owns 1,100,191 shares of the biotechnology company’s stock valued at $93,020,000 after acquiring an additional 370,098 shares in the last quarter. Scout Investments Inc. lifted its position in shares of BioMarin Pharmaceutical by 246.0% in the fourth quarter. Scout Investments Inc. now owns 401,147 shares of the biotechnology company’s stock valued at $33,917,000 after acquiring an additional 285,203 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of BioMarin Pharmaceutical by 59,167.2% in the second quarter. Marshall Wace LLP now owns 282,112 shares of the biotechnology company’s stock valued at $24,162,000 after acquiring an additional 281,636 shares in the last quarter. Hedge funds and other institutional investors own 95.85% of the company’s stock.
In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $87.95, for a total value of $703,600.00. Following the transaction, the chief executive officer now owns 335,530 shares of the company’s stock, valued at $29,509,863.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director V Bryan Lawlis sold 3,750 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $83.36, for a total transaction of $312,600.00. Following the completion of the transaction, the director now directly owns 27,340 shares in the company, valued at approximately $2,279,062.40. The disclosure for this sale can be found here. Insiders sold 32,940 shares of company stock valued at $2,730,495 over the last quarter. Insiders own 1.90% of the company’s stock.
BMRN has been the topic of several research reports. Canaccord Genuity decreased their target price on BioMarin Pharmaceutical from $117.00 to $108.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Raymond James downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Wedbush restated a “buy” rating and issued a $158.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday, January 21st. Zacks Investment Research downgraded BioMarin Pharmaceutical from a “hold” rating to a “sell” rating and set a $98.00 target price on the stock. in a research report on Wednesday, January 15th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $129.00 price objective on shares of BioMarin Pharmaceutical in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $110.67.
NASDAQ BMRN traded down $2.30 during trading hours on Friday, hitting $86.57. The company had a trading volume of 1,211,655 shares, compared to its average volume of 1,322,733. The company has a market capitalization of $15.96 billion, a price-to-earnings ratio of -332.96 and a beta of 1.39. BioMarin Pharmaceutical Inc. has a fifty-two week low of $62.88 and a fifty-two week high of $96.85. The firm’s 50 day moving average is $86.30 and its 200 day moving average is $77.71. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.77 and a quick ratio of 2.53.
BioMarin Pharmaceutical Profile
BioMarin Pharmaceutical Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.
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