Inceptionr LLC Has $1.40 Million Position in BioMarin Pharmaceutical Inc. $BMRN

Inceptionr LLC cut its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 29.5% during the third quarter, HoldingsChannel.com reports. The firm owned 25,789 shares of the biotechnology company’s stock after selling 10,816 shares during the period. Inceptionr LLC’s holdings in BioMarin Pharmaceutical were worth $1,397,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BMRN. NewEdge Advisors LLC grew its holdings in shares of BioMarin Pharmaceutical by 11.5% during the 1st quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company’s stock valued at $266,000 after acquiring an additional 388 shares in the last quarter. Empowered Funds LLC increased its stake in shares of BioMarin Pharmaceutical by 207.4% in the first quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock worth $850,000 after acquiring an additional 8,112 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of BioMarin Pharmaceutical by 70.2% during the first quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock worth $835,000 after acquiring an additional 4,876 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in shares of BioMarin Pharmaceutical by 33.0% during the second quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company’s stock worth $244,000 after acquiring an additional 1,102 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in BioMarin Pharmaceutical by 15.4% during the second quarter. Envestnet Asset Management Inc. now owns 50,753 shares of the biotechnology company’s stock valued at $2,790,000 after purchasing an additional 6,777 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Oppenheimer lowered their target price on BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 24th. Sanford C. Bernstein raised their price target on BioMarin Pharmaceutical from $90.00 to $94.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. HC Wainwright reduced their price target on BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Guggenheim dropped their price objective on BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Finally, Wells Fargo & Company raised their price objective on shares of BioMarin Pharmaceutical from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Fifteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.64.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $61.12 on Monday. The company has a market capitalization of $11.75 billion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 0.53 and a beta of 0.25. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.21 and a quick ratio of 3.50. BioMarin Pharmaceutical Inc. has a one year low of $50.76 and a one year high of $73.51. The company’s fifty day moving average price is $58.92 and its 200 day moving average price is $56.25.

Insider Activity at BioMarin Pharmaceutical

In other news, EVP Gregory R. Friberg sold 6,326 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $60.38, for a total value of $381,963.88. Following the transaction, the executive vice president directly owned 37,578 shares in the company, valued at approximately $2,268,959.64. The trade was a 14.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.85% of the company’s stock.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.