Twin Tree Management LP acquired a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the first quarter, HoldingsChannel reports. The institutional investor acquired 401 shares of the biotechnology company’s stock, valued at approximately $36,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Doyle Wealth Management bought a new position in BioMarin Pharmaceutical during the 4th quarter worth about $26,000. Rational Advisors LLC increased its holdings in BioMarin Pharmaceutical by 3,211.1% during the 1st quarter. Rational Advisors LLC now owns 298 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 289 shares in the last quarter. Commonwealth Bank of Australia increased its holdings in BioMarin Pharmaceutical by 49.6% during the 4th quarter. Commonwealth Bank of Australia now owns 350 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 116 shares in the last quarter. Lindbrook Capital LLC bought a new position in BioMarin Pharmaceutical during the 4th quarter worth about $30,000. Finally, PRW Wealth Management LLC bought a new position in BioMarin Pharmaceutical during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 98.48% of the company’s stock.

In related news, insider Henry J. Fuchs sold 9,597 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $94.09, for a total value of $902,981.73. Following the completion of the sale, the insider now directly owns 133,061 shares in the company, valued at approximately $12,519,709.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jean Jacques Bienaime sold 4,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $90.78, for a total transaction of $363,120.00. Following the completion of the sale, the chief executive officer now owns 332,701 shares of the company’s stock, valued at $30,202,596.78. The disclosure for this sale can be found here. Insiders sold a total of 93,815 shares of company stock valued at $8,369,268 over the last quarter. 1.97% of the stock is currently owned by company insiders.

Several equities analysts have recently weighed in on the company. Wedbush restated a “buy” rating and issued a $128.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, May 28th. TheStreet cut BioMarin Pharmaceutical from a “c-” rating to a “d+” rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. restated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Sunday. ValuEngine cut BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $131.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the stock. BioMarin Pharmaceutical currently has an average rating of “Buy” and an average price target of $116.00.

NASDAQ:BMRN traded up $0.77 during mid-day trading on Monday, hitting $83.01. The stock had a trading volume of 39,279 shares, compared to its average volume of 1,517,737. BioMarin Pharmaceutical Inc. has a twelve month low of $79.13 and a twelve month high of $106.74. The company has a market capitalization of $14.73 billion, a P/E ratio of -251.21 and a beta of 1.40. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.76 and a current ratio of 3.83.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Thursday, April 25th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. BioMarin Pharmaceutical had a negative net margin of 5.90% and a negative return on equity of 2.97%. The business had revenue of $400.70 million during the quarter, compared to the consensus estimate of $389.95 million. During the same period last year, the business posted $0.12 EPS. BioMarin Pharmaceutical’s revenue was up 7.3% on a year-over-year basis. As a group, equities analysts forecast that BioMarin Pharmaceutical Inc. will post -0.04 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This report was first posted by Watch List News and is owned by of Watch List News. If you are accessing this report on another website, it was stolen and reposted in violation of U.S. and international trademark & copyright legislation. The legal version of this report can be accessed at https://www.watchlistnews.com/twin-tree-management-lp-takes-36000-position-in-biomarin-pharmaceutical-inc-bmrn/3030363.html.

BioMarin Pharmaceutical Profile

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 to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.

Read More: What are convertible shares? 

Want to see what other hedge funds are holding BMRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN).

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

Receive News & Ratings for BioMarin Pharmaceutical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical and related companies with MarketBeat.com's FREE daily email newsletter.