Nisa Investment Advisors LLC Raises Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Nisa Investment Advisors LLC raised its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 5.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,572 shares of the biotechnology company’s stock after purchasing an additional 217 shares during the period. Nisa Investment Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in BioMarin Pharmaceutical by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company’s stock valued at $1,273,334,000 after purchasing an additional 93,531 shares during the period. Dodge & Cox raised its position in BioMarin Pharmaceutical by 6.1% during the fourth quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company’s stock valued at $969,270,000 after purchasing an additional 847,917 shares during the period. Capital Research Global Investors grew its stake in shares of BioMarin Pharmaceutical by 23.8% during the fourth quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock valued at $853,944,000 after buying an additional 2,496,817 shares during the last quarter. Norges Bank bought a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $234,645,000. Finally, Geode Capital Management LLC grew its stake in shares of BioMarin Pharmaceutical by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 3,288,778 shares of the biotechnology company’s stock valued at $215,784,000 after buying an additional 28,728 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Up 3.1%

Shares of NASDAQ BMRN opened at $58.39 on Thursday. The company has a current ratio of 5.52, a quick ratio of 3.49 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $11.20 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 0.77 and a beta of 0.17. The stock’s fifty day simple moving average is $57.27 and its two-hundred day simple moving average is $62.48. BioMarin Pharmaceutical Inc. has a 12-month low of $52.93 and a 12-month high of $94.85.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Citigroup cut their target price on BioMarin Pharmaceutical from $82.00 to $78.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. The Goldman Sachs Group cut their target price on BioMarin Pharmaceutical from $124.00 to $104.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Morgan Stanley assumed coverage on BioMarin Pharmaceutical in a research note on Thursday, July 3rd. They set an “overweight” rating and a $97.00 target price on the stock. Wall Street Zen raised BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. upped their target price on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday. Six research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $93.78.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total transaction of $105,927.66. Following the sale, the chief accounting officer owned 14,173 shares of the company’s stock, valued at approximately $840,600.63. This trade represents a 11.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.85% of the company’s stock.

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.