BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Purchased by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC grew its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 347.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 104,777 shares of the biotechnology company’s stock after acquiring an additional 81,355 shares during the period. New Age Alpha Advisors LLC owned about 0.05% of BioMarin Pharmaceutical worth $7,407,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BMRN shares. Morgan Stanley decreased 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. Wall Street Zen lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 18th. JPMorgan Chase & Co. increased their target price on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. The Goldman Sachs Group cut their price target on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a “buy” rating for the company in a report on Monday, May 5th. Finally, Citigroup dropped their price objective on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.74.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $60.31 on Tuesday. The firm’s 50 day simple moving average is $57.16 and its 200 day simple moving average is $61.79. The firm has a market capitalization of $11.57 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 0.80 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. The company has a current ratio of 5.52, a quick ratio of 3.49 and a debt-to-equity ratio of 0.10.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Monday, August 4th. The biotechnology company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.02 by $0.21. The firm had revenue of $825.00 million during the quarter, compared to analysts’ expectations of $761.51 million. BioMarin Pharmaceutical had a net margin of 17.76% and a return on equity of 11.34%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company posted $0.55 EPS. As a group, analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Insider Activity

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total transaction of $105,927.66. Following the transaction, the chief accounting officer owned 14,173 shares of the company’s stock, valued at $840,600.63. The trade was a 11.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.85% of the company’s stock.

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.