2,927 Shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,927 shares of the biotechnology company’s stock, valued at approximately $285,000.

Several other large investors have also recently made changes to their positions in BMRN. Grey Fox Wealth Advisors LLC purchased a new stake in BioMarin Pharmaceutical in the 4th quarter valued at $31,000. ICA Group Wealth Management LLC purchased a new stake in BioMarin Pharmaceutical in the 4th quarter valued at $31,000. Acadian Asset Management LLC grew its holdings in BioMarin Pharmaceutical by 395.4% in the 1st quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 344 shares in the last quarter. Allworth Financial LP grew its holdings in BioMarin Pharmaceutical by 57.5% in the 1st quarter. Allworth Financial LP now owns 356 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 130 shares in the last quarter. Finally, MayTech Global Investments LLC purchased a new stake in BioMarin Pharmaceutical in the 4th quarter valued at $36,000. 92.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BMRN shares. StockNews.com started coverage on BioMarin Pharmaceutical in a report on Thursday, August 17th. They issued a “buy” rating for the company. Guggenheim decreased their price target on BioMarin Pharmaceutical from $120.00 to $110.00 in a research note on Monday, July 3rd. Robert W. Baird reaffirmed an “outperform” rating and issued a $127.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, June 30th. Bank of America decreased their price target on BioMarin Pharmaceutical to $185.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Finally, 500.com reaffirmed a “reiterates” rating on shares of BioMarin Pharmaceutical in a research note on Friday, June 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $115.00.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $93.81 on Thursday. BioMarin Pharmaceutical Inc. has a 1-year low of $80.53 and a 1-year high of $117.77. The company has a market cap of $17.65 billion, a price-to-earnings ratio of 180.41 and a beta of 0.37. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.94 and a quick ratio of 3.31. The stock’s 50-day moving average is $89.07 and its two-hundred day moving average is $93.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Monday, July 31st. The biotechnology company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.10. BioMarin Pharmaceutical had a return on equity of 4.03% and a net margin of 4.47%. The business had revenue of $595.28 million for the quarter, compared to the consensus estimate of $591.46 million. Analysts forecast that BioMarin Pharmaceutical Inc. will post 1.25 EPS for the current fiscal year.

Insider Activity

In other news, insider Henry J. Fuchs sold 12,000 shares of the stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $90.43, for a total value of $1,085,160.00. Following the transaction, the insider now owns 176,187 shares in the company, valued at approximately $15,932,590.41. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Henry J. Fuchs sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $90.43, for a total transaction of $1,085,160.00. Following the transaction, the insider now owns 176,187 shares in the company, valued at approximately $15,932,590.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey Robert Ajer sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $90.00, for a total value of $450,000.00. Following the transaction, the executive vice president now owns 60,804 shares in the company, valued at approximately $5,472,360. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,000 shares of company stock worth $2,871,180. 1.84% of the stock is currently owned by insiders.

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.