Avantax Advisory Services Inc. Acquires 497 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Avantax Advisory Services Inc. lifted its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 8.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 6,447 shares of the biotechnology company’s stock after acquiring an additional 497 shares during the quarter. Avantax Advisory Services Inc.’s holdings in BioMarin Pharmaceutical were worth $456,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its holdings in shares of BioMarin Pharmaceutical by 95.9% in the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 211 shares during the last quarter. LRI Investments LLC raised its holdings in BioMarin Pharmaceutical by 856.9% during the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 437 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in BioMarin Pharmaceutical by 71.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 218 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in BioMarin Pharmaceutical by 64.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 233 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC bought a new stake in BioMarin Pharmaceutical during the 4th quarter valued at $62,000. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Stock Down 2.0%

Shares of BioMarin Pharmaceutical stock opened at $60.67 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.49. The company has a 50-day moving average of $57.24 and a 200 day moving average of $61.79. The firm has a market cap of $11.64 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 0.85 and a beta of 0.18. BioMarin Pharmaceutical Inc. has a 1 year low of $52.93 and a 1 year high of $94.85.

Wall Street Analyst Weigh In

A number of research firms recently commented on BMRN. Wolfe Research set a $95.00 price target on shares of BioMarin Pharmaceutical and gave the company an “outperform” rating in a report on Tuesday, July 15th. Wall Street Zen lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a report on Friday, July 18th. Morgan Stanley lowered their price target on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an “overweight” rating for the company in a report on Tuesday, July 22nd. Guggenheim upped their price target on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday. Finally, UBS Group upped their price target on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday. Six research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.17.

Insider Activity

In related news, CAO Erin Burkhart sold 1,786 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total value of $105,927.66. Following the completion of the transaction, the chief accounting officer directly owned 14,173 shares in the company, valued at $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 is available through this hyperlink. 0.85% of the stock is currently owned by insiders.

BioMarin Pharmaceutical Company 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.