2,088 Shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Acquired by Kingsview Wealth Management LLC

Posted by Defense World Staff on Jun 12th, 2023

Kingsview Wealth Management LLC acquired a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,088 shares of the biotechnology company’s stock, valued at approximately $216,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TCI Wealth Advisors Inc. raised its stake in BioMarin Pharmaceutical by 68.0% during the 4th quarter. TCI Wealth Advisors Inc. now owns 247 shares of the biotechnology company’s stock worth $26,000 after acquiring an additional 100 shares during the period. Altshuler Shaham Ltd bought a new stake in shares of BioMarin Pharmaceutical during the third quarter valued at approximately $25,000. Baystate Wealth Management LLC bought a new stake in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $41,000. Acadian Asset Management LLC raised its position in shares of BioMarin Pharmaceutical by 395.4% during the first quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 344 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $109,000. Hedge funds and other institutional investors own 96.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BMRN. Oppenheimer cut shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 22nd. TheStreet cut shares of BioMarin Pharmaceutical from a “b-” rating to a “c+” rating in a research report on Thursday, April 27th. 888 restated a “maintains” rating on shares of BioMarin Pharmaceutical in a research report on Thursday, April 27th. Avian Securities cut shares of BioMarin Pharmaceutical to a “market perform” rating in a research report on Wednesday, February 22nd. Finally, 92 Resources restated a “maintains” rating on shares of BioMarin Pharmaceutical in a research report on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $118.65.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 30,000 shares of the business’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $94.85, for a total value of $2,845,500.00. Following the completion of the transaction, the chief executive officer now directly owns 426,213 shares in the company, valued at $40,426,303.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Jean Jacques Bienaime sold 30,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $94.85, for a total transaction of $2,845,500.00. Following the transaction, the chief executive officer now owns 426,213 shares in the company, valued at $40,426,303.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director V Bryan Lawlis sold 8,500 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $97.09, for a total transaction of $825,265.00. Following the transaction, the director now owns 28,950 shares in the company, valued at approximately $2,810,755.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,500 shares of company stock worth $5,627,665. 1.84% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical Stock Up 1.6 %

NASDAQ:BMRN traded up $1.47 during mid-day trading on Monday, reaching $92.84. The company’s stock had a trading volume of 269,095 shares, compared to its average volume of 1,311,853. BioMarin Pharmaceutical Inc. has a 1 year low of $70.73 and a 1 year high of $117.77. The stock has a fifty day moving average of $94.31 and a 200-day moving average of $100.45. The firm has a market capitalization of $17.43 billion, a PE ratio of 244.53 and a beta of 0.38. The company has a quick ratio of 3.21, a current ratio of 4.75 and a debt-to-equity ratio of 0.23.

BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) last released its quarterly earnings data on Wednesday, April 26th. The biotechnology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.15. The company had revenue of $596.42 million during the quarter, compared to analyst estimates of $572.53 million. BioMarin Pharmaceutical had a net margin of 3.30% and a return on equity of 4.02%. Equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 1.06 earnings per share for the current year.

About BioMarin Pharmaceutical

(Get Rating)

BioMarin Pharmaceutical, Inc engages in the development and commercialization of therapies for people with serious and life-threatening rare diseases and medical conditions. Its pipeline products include Valoctocogene roxaparvovec, Vosoritide, and BMN 307. The company was founded by John C. Klock, Christopher M.