Integrated Advisors Network LLC Increases Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Posted by Defense World Staff on Aug 10th, 2023

Integrated Advisors Network LLC grew its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Free Report) by 4.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,302 shares of the biotechnology company’s stock after purchasing an additional 130 shares during the quarter. Integrated Advisors Network LLC’s holdings in BioMarin Pharmaceutical were worth $321,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Marshall Wace LLP grew its position in shares of BioMarin Pharmaceutical by 30.2% during the 4th quarter. Marshall Wace LLP now owns 600,272 shares of the biotechnology company’s stock valued at $62,122,000 after acquiring an additional 139,313 shares during the period. Mackenzie Financial Corp increased its holdings in BioMarin Pharmaceutical by 1.8% in the 1st quarter. Mackenzie Financial Corp now owns 45,736 shares of the biotechnology company’s stock worth $4,447,000 after acquiring an additional 800 shares in the last quarter. abrdn plc raised its stake in BioMarin Pharmaceutical by 87.3% during the 1st quarter. abrdn plc now owns 33,016 shares of the biotechnology company’s stock worth $3,210,000 after acquiring an additional 15,387 shares during the period. Carmignac Gestion purchased a new position in BioMarin Pharmaceutical during the fourth quarter valued at approximately $89,893,000. Finally, Bleakley Financial Group LLC bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at $1,634,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

BioMarin Pharmaceutical Trading Up 2.9 %

Shares of NASDAQ BMRN opened at $93.23 on Thursday. BioMarin Pharmaceutical Inc. has a twelve month low of $80.53 and a twelve month high of $117.77. The company has a quick ratio of 3.31, a current ratio of 4.94 and a debt-to-equity ratio of 0.23. The business has a fifty day simple moving average of $89.72 and a two-hundred day simple moving average of $95.64. The firm has a market cap of $17.54 billion, a PE ratio of 179.29 and a beta of 0.37.

Insider Activity

In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 11,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $89.42, for a total transaction of $983,620.00. Following the completion of the sale, the executive vice president now owns 69,474 shares in the company, valued at $6,212,365.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $89.42, for a total value of $983,620.00. Following the completion of the sale, the executive vice president now directly owns 69,474 shares in the company, valued at $6,212,365.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jean Jacques Bienaime sold 4,000 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $88.10, for a total value of $352,400.00. Following the sale, the chief executive officer now owns 428,732 shares of the company’s stock, valued at approximately $37,771,289.20. The disclosure for this sale can be found here. Insiders own 1.84% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $120.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, August 1st. BMO Capital Markets raised BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $102.00 price target on the stock in a report on Wednesday, July 5th. Citigroup reduced their price objective on shares of BioMarin Pharmaceutical from $103.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, June 30th. TheStreet lowered shares of BioMarin Pharmaceutical from a “b-” rating to a “c+” rating in a research report on Thursday, April 27th. Finally, Truist Financial lifted their price target on shares of BioMarin Pharmaceutical from $125.00 to $140.00 and gave the company a “buy” rating in a report on Friday, June 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus target price of $115.00.

View Our Latest Report on BioMarin Pharmaceutical

About BioMarin Pharmaceutical

(Free Report)

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.