D.A. Davidson & CO. Acquires 36,293 Shares of BioMarin Pharmaceutical Inc. $BMRN

D.A. Davidson & CO. boosted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 467.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,063 shares of the biotechnology company’s stock after purchasing an additional 36,293 shares during the period. D.A. Davidson & CO.’s holdings in BioMarin Pharmaceutical were worth $2,489,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Assenagon Asset Management S.A. boosted its position in shares of BioMarin Pharmaceutical by 312.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,419,067 shares of the biotechnology company’s stock worth $84,335,000 after purchasing an additional 1,074,929 shares in the last quarter. Perpetual Ltd increased its position in BioMarin Pharmaceutical by 425.7% during the 4th quarter. Perpetual Ltd now owns 25,621 shares of the biotechnology company’s stock valued at $1,523,000 after buying an additional 20,747 shares in the last quarter. Paragon Capital Management Inc. purchased a new position in BioMarin Pharmaceutical during the fourth quarter valued at $1,191,000. Swedbank AB raised its stake in BioMarin Pharmaceutical by 70.6% during the fourth quarter. Swedbank AB now owns 796,737 shares of the biotechnology company’s stock valued at $47,350,000 after buying an additional 329,794 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in BioMarin Pharmaceutical by 4.3% in the fourth quarter. LSV Asset Management now owns 882,200 shares of the biotechnology company’s stock worth $52,429,000 after acquiring an additional 36,700 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

Wall Street Analyst Weigh In

BMRN has been the subject of several analyst reports. HC Wainwright restated a “neutral” rating on shares of BioMarin Pharmaceutical in a report on Tuesday, July 14th. Royal Bank Of Canada reduced their price objective on shares of BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 7th. Bank of America decreased their target price on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Sanford C. Bernstein cut their price target on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Finally, Morgan Stanley decreased their price objective on shares of BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating for the company in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.26.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $59.11 on Tuesday. BioMarin Pharmaceutical Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $66.28. The business has a 50-day simple moving average of $56.05 and a two-hundred day simple moving average of $56.83. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.20 and a current ratio of 5.81. The firm has a market cap of $11.42 billion, a price-to-earnings ratio of 43.15, a price-to-earnings-growth ratio of 0.45 and a beta of 0.24.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, EVP Gregory R. Friberg sold 3,281 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $53.85, for a total transaction of $176,681.85. Following the transaction, the executive vice president owned 51,818 shares in the company, valued at $2,790,399.30. This represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.68% of the stock is owned by insiders.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.