BioMarin Pharmaceutical Inc. $BMRN Shares Purchased by Inceptionr LLC

Inceptionr LLC raised its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 73.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,726 shares of the biotechnology company’s stock after buying an additional 13,048 shares during the period. Inceptionr LLC’s holdings in BioMarin Pharmaceutical were worth $1,736,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of BMRN. NewEdge Advisors LLC boosted its holdings in BioMarin Pharmaceutical by 11.5% in the first quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company’s stock valued at $266,000 after purchasing an additional 388 shares during the last quarter. Empowered Funds LLC increased its holdings in BioMarin Pharmaceutical by 207.4% during the 1st quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock worth $850,000 after purchasing an additional 8,112 shares during the last quarter. Focus Partners Wealth increased its holdings in BioMarin Pharmaceutical by 70.2% during the 1st quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock worth $835,000 after purchasing an additional 4,876 shares during the last quarter. Sivia Capital Partners LLC raised its position in shares of BioMarin Pharmaceutical by 33.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company’s stock valued at $244,000 after purchasing an additional 1,102 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of BioMarin Pharmaceutical by 23.5% in the 2nd quarter. Invesco Ltd. now owns 618,835 shares of the biotechnology company’s stock valued at $34,017,000 after purchasing an additional 117,617 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $58.87 on Friday. The company has a market cap of $11.38 billion, a PE ratio of 42.97, a P/E/G ratio of 0.44 and a beta of 0.24. The company has a fifty day moving average price of $56.39 and a two-hundred day moving average price of $56.82. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.81 and a quick ratio of 4.20. BioMarin Pharmaceutical Inc. has a 12 month low of $49.26 and a 12 month high of $66.28.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BMRN shares. Citigroup raised their price target on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. UBS Group reaffirmed a “neutral” rating on shares of BioMarin Pharmaceutical in a report on Tuesday, July 14th. Bank of America decreased their price objective on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. HC Wainwright restated a “neutral” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 14th. Finally, Canaccord Genuity Group reduced their price target on shares of BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price of $88.26.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, EVP Gregory R. Friberg sold 3,281 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $53.85, for a total transaction of $176,681.85. Following the completion of the sale, the executive vice president owned 51,818 shares of the company’s stock, valued at $2,790,399.30. This represents a 5.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.68% of the stock is currently owned by corporate insiders.

BioMarin Pharmaceutical Company Profile

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.