First Trust Advisors LP Acquires 10,900 Shares of BioMarin Pharmaceutical Inc. (BMRN)

First Trust Advisors LP raised its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 585,838 shares of the biotechnology company’s stock after purchasing an additional 10,900 shares during the period. First Trust Advisors LP owned 0.33% of BioMarin Pharmaceutical worth $52,239,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Manhattan Co. lifted its holdings in shares of BioMarin Pharmaceutical by 104.2% in the fourth quarter. First Manhattan Co. now owns 1,225 shares of the biotechnology company’s stock valued at $109,000 after purchasing an additional 625 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of BioMarin Pharmaceutical by 12.9% in the second quarter. Toronto Dominion Bank now owns 2,124 shares of the biotechnology company’s stock valued at $193,000 after purchasing an additional 243 shares in the last quarter. Commerce Bank purchased a new stake in shares of BioMarin Pharmaceutical in the third quarter valued at about $209,000. Teacher Retirement System of Texas purchased a new stake in shares of BioMarin Pharmaceutical in the third quarter valued at about $220,000. Finally, First Republic Investment Management Inc. purchased a new stake in shares of BioMarin Pharmaceutical in the third quarter valued at about $220,000. 98.81% of the stock is currently owned by institutional investors.

In related news, EVP George Eric Davis sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $85.64, for a total transaction of $102,768.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director V Bryan Lawlis sold 3,750 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $88.84, for a total transaction of $333,150.00. The disclosure for this sale can be found here. Insiders have sold 90,750 shares of company stock valued at $8,159,588 in the last ninety days. 1.85% of the stock is currently owned by company insiders.

BioMarin Pharmaceutical Inc. (BMRN) opened at $84.98 on Friday. BioMarin Pharmaceutical Inc. has a 52-week low of $78.50 and a 52-week high of $100.51. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.81 and a current ratio of 4.91. The company has a market cap of $14,900.00, a P/E ratio of -102.39 and a beta of 1.71.

BMRN has been the topic of several recent research reports. SunTrust Banks upped their price target on shares of BioMarin Pharmaceutical to $130.00 and gave the company a “buy” rating in a report on Monday, December 11th. Goldman Sachs Group raised shares of BioMarin Pharmaceutical from a “buy” rating to a “conviction-buy” rating in a research report on Friday, December 15th. BidaskClub lowered shares of BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 20th. JPMorgan Chase & Co. set a $130.00 price objective on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a research report on Sunday, October 29th. Finally, Zacks Investment Research raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $111.60.

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BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).

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

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