Pacer Advisors Inc. increased its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 11.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,101 shares of the biotechnology company’s stock after purchasing an additional 1,127 shares during the quarter. Pacer Advisors Inc.’s holdings in BioMarin Pharmaceutical were worth $951,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. BB&T Securities LLC lifted its holdings in BioMarin Pharmaceutical by 4.0% in the second quarter. BB&T Securities LLC now owns 3,447 shares of the biotechnology company’s stock valued at $295,000 after buying an additional 132 shares during the period. Berman Capital Advisors LLC lifted its holdings in BioMarin Pharmaceutical by 56.8% in the first quarter. Berman Capital Advisors LLC now owns 417 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 151 shares during the period. Avestar Capital LLC raised its holdings in shares of BioMarin Pharmaceutical by 36.9% during the second quarter. Avestar Capital LLC now owns 750 shares of the biotechnology company’s stock valued at $44,000 after purchasing an additional 202 shares during the period. First Mercantile Trust Co. raised its holdings in shares of BioMarin Pharmaceutical by 2.6% during the second quarter. First Mercantile Trust Co. now owns 8,116 shares of the biotechnology company’s stock valued at $695,000 after purchasing an additional 206 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in shares of BioMarin Pharmaceutical by 4.0% during the first quarter. Janney Montgomery Scott LLC now owns 6,940 shares of the biotechnology company’s stock valued at $616,000 after purchasing an additional 268 shares during the period. 98.08% of the stock is currently owned by institutional investors.
Shares of NASDAQ BMRN traded down $0.15 during trading on Friday, hitting $72.65. 966,431 shares of the company traded hands, compared to its average volume of 991,765. The business’s fifty day moving average is $76.00 and its 200 day moving average is $83.87. BioMarin Pharmaceutical Inc. has a fifty-two week low of $70.82 and a fifty-two week high of $106.74. The firm has a market capitalization of $13.06 billion, a price-to-earnings ratio of -220.15 and a beta of 1.32. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.79 and a current ratio of 4.11.
In related news, Director V Bryan Lawlis sold 3,750 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $81.08, for a total value of $304,050.00. Following the sale, the director now owns 27,340 shares in the company, valued at approximately $2,216,727.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.90% of the company’s stock.
Several brokerages have recently weighed in on BMRN. JPMorgan Chase & Co. reiterated a “buy” rating and set a $133.00 price objective on shares of BioMarin Pharmaceutical in a report on Monday, August 5th. BidaskClub lowered shares of BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a report on Friday, July 26th. Citigroup reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Thursday, May 23rd. Finally, Wedbush reiterated an “outperform” rating and set a $128.00 price objective on shares of BioMarin Pharmaceutical in a report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. BioMarin Pharmaceutical currently has a consensus rating of “Buy” and a consensus target price of $115.60.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.
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