SteelPeak Wealth LLC Has $218,000 Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

SteelPeak Wealth LLC increased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 10.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,498 shares of the biotechnology company’s stock after purchasing an additional 246 shares during the quarter. SteelPeak Wealth LLC’s holdings in BioMarin Pharmaceutical were worth $218,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. KB Financial Partners LLC raised its stake in BioMarin Pharmaceutical by 51.3% in the third quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 118 shares during the period. Lindbrook Capital LLC raised its stake in BioMarin Pharmaceutical by 259.8% in the 4th quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 278 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in BioMarin Pharmaceutical by 135.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 249 shares during the last quarter. Jones Financial Companies Lllp bought a new position in BioMarin Pharmaceutical during the fourth quarter worth $43,000. Finally, First Horizon Advisors Inc. increased its holdings in shares of BioMarin Pharmaceutical by 33.3% in the fourth quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 144 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Robert W. Baird cut BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $104.00 to $72.00 in a report on Friday, May 17th. Scotiabank upped their price objective on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the company a “sector perform” rating in a report on Thursday, April 25th. Citigroup dropped their target price on BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Canaccord Genuity Group decreased their price target on shares of BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Finally, Baird R W cut shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.37.

Insider Transactions at BioMarin Pharmaceutical

In related news, Director Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the sale, the director now directly owns 474,994 shares in the company, valued at approximately $43,347,952.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Jean Jacques Bienaime sold 20,000 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the completion of the transaction, the director now directly owns 474,994 shares of the company’s stock, valued at approximately $43,347,952.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP George Eric Davis sold 1,850 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $85.01, for a total value of $157,268.50. Following the completion of the sale, the executive vice president now owns 56,157 shares in the company, valued at approximately $4,773,906.57. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,986 shares of company stock worth $7,240,292. Insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock opened at $82.33 on Monday. The company’s 50 day moving average price is $81.37 and its two-hundred day moving average price is $87.23. The firm has a market capitalization of $15.63 billion, a P/E ratio of 76.94, a P/E/G ratio of 1.17 and a beta of 0.32. BioMarin Pharmaceutical Inc. has a fifty-two week low of $73.68 and a fifty-two week high of $99.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.74 and a quick ratio of 1.70.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.12. The company had revenue of $648.83 million during the quarter, compared to analysts’ expectations of $649.75 million. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. On average, equities analysts forecast that BioMarin Pharmaceutical Inc. will post 1.99 earnings per share for the current fiscal year.

About BioMarin Pharmaceutical

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.