BioMarin Pharmaceutical Inc. $BMRN Shares Purchased by Inceptionr LLC

Inceptionr LLC raised its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 73.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 30,726 shares of the biotechnology company’s stock after buying an additional 13,048 shares during the quarter. Inceptionr LLC’s holdings in BioMarin Pharmaceutical were worth $1,736,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Viking Global Investors LP increased its holdings in shares of BioMarin Pharmaceutical by 13.8% in the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock worth $675,505,000 after acquiring an additional 1,488,552 shares during the period. Norges Bank bought a new stake in BioMarin Pharmaceutical in the 4th quarter valued at about $447,572,000. AQR Capital Management LLC boosted its stake in BioMarin Pharmaceutical by 12.7% during the 4th quarter. AQR Capital Management LLC now owns 6,686,916 shares of the biotechnology company’s stock valued at $395,197,000 after purchasing an additional 754,807 shares during the period. Dimensional Fund Advisors LP boosted its stake in BioMarin Pharmaceutical by 14.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,802,930 shares of the biotechnology company’s stock valued at $214,804,000 after purchasing an additional 481,176 shares during the period. Finally, Geode Capital Management LLC grew its position in BioMarin Pharmaceutical by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 3,674,089 shares of the biotechnology company’s stock worth $218,395,000 after purchasing an additional 131,969 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Insider Activity at BioMarin Pharmaceutical

In other news, EVP Gregory R. Friberg sold 3,281 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $53.85, for a total value of $176,681.85. Following the completion of the sale, the executive vice president owned 51,818 shares in the company, valued at $2,790,399.30. This represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.68% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $58.87 on Friday. The stock has a market cap of $11.38 billion, a price-to-earnings ratio of 42.97, a PEG ratio of 0.44 and a beta of 0.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.81 and a quick ratio of 4.20. BioMarin Pharmaceutical Inc. has a 12 month low of $49.26 and a 12 month high of $66.28. The stock’s 50 day moving average price is $56.39 and its 200 day moving average price is $56.82.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BMRN shares. Canaccord Genuity Group dropped their price target on shares of BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. The Goldman Sachs Group started coverage on BioMarin Pharmaceutical in a report on Monday, May 11th. They issued a “neutral” rating and a $69.00 price objective for the company. Citigroup lifted their target price on BioMarin Pharmaceutical from $75.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Weiss Ratings upgraded BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, June 26th. Finally, Royal Bank Of Canada decreased their price target on BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average target price of $88.26.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.