Private Advisor Group LLC Invests $1.13 Million in BioMarin Pharmaceutical Inc. (BMRN) Stock

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Private Advisor Group LLC bought a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,965 shares of the biotechnology company’s stock, valued at approximately $1,126,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Gravity Wealth Inc. purchased a new stake in shares of BioMarin Pharmaceutical during the first quarter valued at approximately $195,000. Allen Investment Management LLC purchased a new stake in shares of BioMarin Pharmaceutical during the second quarter valued at approximately $203,000. Jump Trading LLC purchased a new stake in shares of BioMarin Pharmaceutical during the first quarter valued at approximately $240,000. Reilly Financial Advisors LLC purchased a new stake in shares of BioMarin Pharmaceutical during the second quarter valued at approximately $254,000. Finally, Wedbush Securities Inc. purchased a new stake in shares of BioMarin Pharmaceutical during the second quarter valued at approximately $262,000.

Shares of BMRN stock opened at $99.96 on Thursday. BioMarin Pharmaceutical Inc. has a 52 week low of $75.81 and a 52 week high of $106.20. The firm has a market capitalization of $17.76 billion, a P/E ratio of -149.19 and a beta of 1.60. The company has a quick ratio of 2.24, a current ratio of 2.83 and a debt-to-equity ratio of 0.28.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Thursday, August 2nd. The biotechnology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). BioMarin Pharmaceutical had a negative return on equity of 3.00% and a negative net margin of 8.68%. The business had revenue of $372.80 million during the quarter, compared to analysts’ expectations of $359.25 million. During the same period in the previous year, the business earned ($0.21) EPS. The business’s revenue was up 17.4% compared to the same quarter last year. sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post -0.24 EPS for the current fiscal year.

A number of research firms have recently weighed in on BMRN. Credit Suisse Group increased their price objective on BioMarin Pharmaceutical from $120.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, July 9th. BidaskClub lowered BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Friday, June 8th. ValuEngine lowered BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Tuesday, May 22nd. Stifel Nicolaus increased their price objective on BioMarin Pharmaceutical from $102.00 to $109.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. Finally, Citigroup increased their price objective on BioMarin Pharmaceutical from $108.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, August 9th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. BioMarin Pharmaceutical currently has an average rating of “Buy” and an average price target of $116.28.

In other BioMarin Pharmaceutical news, EVP Robert Baffi sold 5,173 shares of the stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $105.00, for a total value of $543,165.00. Following the completion of the transaction, the executive vice president now owns 83,276 shares in the company, valued at $8,743,980. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alan Lewis sold 4,200 shares of the stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $100.09, for a total value of $420,378.00. Following the completion of the transaction, the director now owns 21,160 shares of the company’s stock, valued at approximately $2,117,904.40. The disclosure for this sale can be found here. Insiders sold 109,574 shares of company stock valued at $10,605,184 in the last ninety days. 1.90% of the stock is currently owned by insiders.

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 that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.

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Institutional Ownership by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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