BioMarin Pharmaceutical Inc. $BMRN Shares Sold by Essential Partners LLC

Essential Partners LLC trimmed its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 50.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 8,777 shares of the biotechnology company’s stock after selling 8,843 shares during the period. Essential Partners LLC’s holdings in BioMarin Pharmaceutical were worth $496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of BMRN. NewEdge Advisors LLC raised its holdings in BioMarin Pharmaceutical by 11.5% during the first quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company’s stock worth $266,000 after purchasing an additional 388 shares in the last quarter. Empowered Funds LLC boosted its holdings in BioMarin Pharmaceutical by 207.4% in the 1st quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock valued at $850,000 after purchasing an additional 8,112 shares in the last quarter. Focus Partners Wealth boosted its holdings in BioMarin Pharmaceutical by 70.2% in the 1st quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock valued at $835,000 after purchasing an additional 4,876 shares in the last quarter. Sivia Capital Partners LLC increased its position in BioMarin Pharmaceutical by 33.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company’s stock worth $244,000 after purchasing an additional 1,102 shares during the period. Finally, Invesco Ltd. increased its position in BioMarin Pharmaceutical by 23.5% during the 2nd quarter. Invesco Ltd. now owns 618,835 shares of the biotechnology company’s stock worth $34,017,000 after purchasing an additional 117,617 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Trading Down 1.3%

NASDAQ:BMRN opened at $60.58 on Friday. The company has a market capitalization of $11.71 billion, a PE ratio of 44.22, a price-to-earnings-growth ratio of 0.47 and a beta of 0.24. The company has a quick ratio of 4.20, a current ratio of 5.81 and a debt-to-equity ratio of 0.23. BioMarin Pharmaceutical Inc. has a 52-week low of $49.26 and a 52-week high of $66.28. The stock has a fifty day simple moving average of $57.35 and a 200-day simple moving average of $56.85.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $53.85, for a total transaction of $176,681.85. Following the completion of the transaction, the executive vice president directly owned 51,818 shares in the company, valued at approximately $2,790,399.30. This trade represents a 5.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

BMRN has been the subject of several recent analyst reports. Sanford C. Bernstein reduced their price target on BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Citigroup upped their price objective on BioMarin Pharmaceutical from $75.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Wall Street Zen cut BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Canaccord Genuity Group reduced their target price on BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Finally, Weiss Ratings upgraded shares of BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.