MML Investors Services LLC lifted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 19.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,182 shares of the biotechnology company’s stock after acquiring an additional 1,469 shares during the quarter. MML Investors Services LLC’s holdings in BioMarin Pharmaceutical were worth $782,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Doyle Wealth Management bought a new stake in BioMarin Pharmaceutical during the 4th quarter valued at $26,000. Commonwealth Bank of Australia grew its holdings in shares of BioMarin Pharmaceutical by 49.6% during the fourth quarter. Commonwealth Bank of Australia now owns 350 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 116 shares in the last quarter. Lindbrook Capital LLC purchased a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at $30,000. PRW Wealth Management LLC purchased a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at $30,000. Finally, Exane Derivatives grew its holdings in shares of BioMarin Pharmaceutical by 3,492.3% during the fourth quarter. Exane Derivatives now owns 467 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 454 shares in the last quarter.
Shares of BMRN traded up $0.81 on Friday, hitting $83.16. The company’s stock had a trading volume of 2,067,788 shares, compared to its average volume of 1,089,302. The company has a market capitalization of $14.83 billion, a P/E ratio of -252.00 and a beta of 1.51. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.93 and a quick ratio of 2.92. BioMarin Pharmaceutical Inc. has a fifty-two week low of $79.13 and a fifty-two week high of $106.74.
BMRN has been the subject of a number of research reports. Zacks Investment Research cut BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Monday, December 31st. Raymond James cut BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and set a $83.16 price target for the company. in a research report on Wednesday, January 2nd. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $126.00 price target on shares of BioMarin Pharmaceutical in a research report on Monday, January 7th. Cowen reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Monday, January 7th. Finally, Oppenheimer set a $92.00 price objective on BioMarin Pharmaceutical and gave the stock a “hold” rating in a research report on Tuesday, January 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $114.82.
In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 4,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $87.86, for a total transaction of $351,440.00. Following the transaction, the chief executive officer now owns 323,211 shares of the company’s stock, valued at approximately $28,397,318.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Henry J. Fuchs sold 2,196 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $95.00, for a total value of $208,620.00. Following the transaction, the insider now directly owns 142,504 shares in the company, valued at approximately $13,537,880. The disclosure for this sale can be found here. Insiders sold a total of 97,011 shares of company stock worth $8,878,668 over the last three months. 1.90% of the stock is owned by company insiders.
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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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