Envestnet Asset Management Inc. Has $3.11 Million Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Envestnet Asset Management Inc. cut its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,976 shares of the biotechnology company’s stock after selling 1,145 shares during the quarter. Envestnet Asset Management Inc.’s holdings in BioMarin Pharmaceutical were worth $3,109,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vestal Point Capital LP lifted its holdings in shares of BioMarin Pharmaceutical by 115.0% during the fourth quarter. Vestal Point Capital LP now owns 860,000 shares of the biotechnology company’s stock worth $56,528,000 after buying an additional 460,000 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of BioMarin Pharmaceutical by 154.0% during the first quarter. GAMMA Investing LLC now owns 3,129 shares of the biotechnology company’s stock worth $221,000 after buying an additional 1,897 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of BioMarin Pharmaceutical by 12.3% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 97,261 shares of the biotechnology company’s stock worth $6,875,000 after acquiring an additional 10,687 shares during the period. Asset Management One Co. Ltd. lifted its position in shares of BioMarin Pharmaceutical by 5.3% in the 1st quarter. Asset Management One Co. Ltd. now owns 80,879 shares of the biotechnology company’s stock worth $5,717,000 after acquiring an additional 4,094 shares during the period. Finally, Janney Montgomery Scott LLC lifted its position in shares of BioMarin Pharmaceutical by 56.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,016 shares of the biotechnology company’s stock worth $849,000 after acquiring an additional 4,345 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BMRN has been the subject of several research reports. The Goldman Sachs Group reduced their target price on BioMarin Pharmaceutical from $124.00 to $104.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Morgan Stanley reduced their target price on BioMarin Pharmaceutical from $97.00 to $96.00 and set an “overweight” rating for the company in a research report on Tuesday, July 22nd. Wolfe Research set a $95.00 target price on BioMarin Pharmaceutical and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Citigroup reduced their target price on BioMarin Pharmaceutical from $82.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. raised their target price on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Six equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.74.

Insider Activity at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,786 shares of BioMarin Pharmaceutical 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 completion of the sale, the chief accounting officer directly owned 14,173 shares of the company’s stock, valued at $840,600.63. The trade was a 11.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.85% of the stock is currently owned by company insiders.

BioMarin Pharmaceutical Price Performance

Shares of BMRN stock opened at $59.01 on Monday. The stock has a 50-day moving average price of $57.15 and a 200 day moving average price of $62.01. The company has a quick ratio of 3.49, a current ratio of 5.52 and a debt-to-equity ratio of 0.10. The firm has a market cap of $11.32 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 0.81 and a beta of 0.17. BioMarin Pharmaceutical Inc. has a 12 month low of $52.93 and a 12 month high of $94.85.

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.