Capital Insight Partners LLC Purchases Shares of 2,390 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Capital Insight Partners LLC purchased a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,390 shares of the biotechnology company’s stock, valued at approximately $209,000.

Several other hedge funds also recently added to or reduced their stakes in BMRN. HighTower Advisors LLC grew its position in shares of BioMarin Pharmaceutical by 56.4% during the third quarter. HighTower Advisors LLC now owns 7,697 shares of the biotechnology company’s stock worth $681,000 after acquiring an additional 2,776 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of BioMarin Pharmaceutical by 88.6% during the third quarter. Envestnet Asset Management Inc. now owns 125,800 shares of the biotechnology company’s stock worth $11,131,000 after acquiring an additional 59,095 shares during the last quarter. FMR LLC grew its position in shares of BioMarin Pharmaceutical by 30.4% during the third quarter. FMR LLC now owns 713,797 shares of the biotechnology company’s stock worth $63,157,000 after acquiring an additional 166,219 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of BioMarin Pharmaceutical by 82.1% during the third quarter. Acadian Asset Management LLC now owns 3,682 shares of the biotechnology company’s stock worth $325,000 after acquiring an additional 1,660 shares during the last quarter. Finally, Mariner LLC grew its position in shares of BioMarin Pharmaceutical by 9.3% during the third quarter. Mariner LLC now owns 27,491 shares of the biotechnology company’s stock worth $2,432,000 after acquiring an additional 2,336 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BMRN shares. Evercore ISI started coverage on BioMarin Pharmaceutical in a report on Tuesday, May 14th. They set an “outperform” rating and a $113.00 price target for the company. Robert W. Baird downgraded BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $104.00 to $72.00 in a report on Friday, May 17th. Canaccord Genuity Group decreased their price target on BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating for the company in a report on Friday, April 26th. Scotiabank raised their target price on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the company a “sector perform” rating in a report on Thursday, April 25th. Finally, Wells Fargo & Company raised their target price on BioMarin Pharmaceutical from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average target price of $106.37.

BioMarin Pharmaceutical Stock Down 1.4 %

BMRN opened at $82.33 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.74 and a quick ratio of 1.70. The stock has a market capitalization of $15.63 billion, a price-to-earnings ratio of 76.94, a price-to-earnings-growth ratio of 1.19 and a beta of 0.31. The business has a 50-day moving average of $81.37 and a two-hundred day moving average of $87.37. BioMarin Pharmaceutical Inc. has a 12 month low of $73.68 and a 12 month high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.12. The business had revenue of $648.83 million for the quarter, compared to analyst estimates of $649.75 million. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. On average, research analysts expect that BioMarin Pharmaceutical Inc. will post 1.99 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Brian Mueller sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $75.19, for a total transaction of $375,950.00. Following the transaction, the chief financial officer now directly owns 72,159 shares of the company’s stock, valued at approximately $5,425,635.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BioMarin Pharmaceutical news, CFO Brian Mueller sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $75.19, for a total value of $375,950.00. Following the transaction, the chief financial officer now directly owns 72,159 shares of the company’s stock, valued at approximately $5,425,635.21. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP George Eric Davis sold 40,850 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $74.51, for a total value of $3,043,733.50. Following the completion of the transaction, the executive vice president now directly owns 56,157 shares in the company, valued at $4,184,258.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,986 shares of company stock valued at $7,240,292. Corporate insiders own 1.85% of the company’s stock.

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.