Inspirion Wealth Advisors LLC Grows Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Inspirion Wealth Advisors LLC increased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 7.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,320 shares of the biotechnology company’s stock after buying an additional 425 shares during the quarter. Inspirion Wealth Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $447,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BMRN. LRI Investments LLC lifted its position in BioMarin Pharmaceutical by 856.9% during the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 437 shares during the period. SBI Securities Co. Ltd. acquired a new stake in BioMarin Pharmaceutical during the 4th quarter worth approximately $36,000. MassMutual Private Wealth & Trust FSB lifted its position 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 worth $37,000 after acquiring an additional 218 shares during the period. CIBC Private Wealth Group LLC lifted its position 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 worth $41,000 after acquiring an additional 233 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in BioMarin Pharmaceutical by 111.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company’s stock worth $58,000 after acquiring an additional 466 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.

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 value of $105,927.66. Following the transaction, the chief accounting officer now owns 14,173 shares in the company, valued at approximately $840,600.63. This trade represents a 11.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 3,354 shares of company stock worth $216,269. 0.85% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BMRN shares. Wall Street Zen raised BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 25th. Bank of America increased their price objective on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Wedbush reaffirmed an “outperform” rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, Oppenheimer raised BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price target for the company in a report on Monday, February 24th. Six research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average price target of $93.45.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $57.99 on Monday. The company has a market cap of $11.12 billion, a P/E ratio of 26.36, a P/E/G ratio of 0.61 and a beta of 0.27. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 52 week low of $52.93 and a 52 week high of $94.85. The business has a fifty day simple moving average of $61.08 and a 200-day simple moving average of $64.48.

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.