Continuum Advisory LLC Takes $6.03 Million Position in BioMarin Pharmaceutical Inc. $BMRN

Continuum Advisory LLC acquired a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 101,420 shares of the biotechnology company’s stock, valued at approximately $6,027,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Northwestern Mutual Investment Management Company LLC lifted its position in shares of BioMarin Pharmaceutical by 0.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 42,982 shares of the biotechnology company’s stock valued at $2,554,000 after acquiring an additional 183 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of BioMarin Pharmaceutical by 7.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,741 shares of the biotechnology company’s stock valued at $163,000 after acquiring an additional 195 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of BioMarin Pharmaceutical by 3.4% in the third quarter. EverSource Wealth Advisors LLC now owns 7,151 shares of the biotechnology company’s stock valued at $387,000 after acquiring an additional 235 shares in the last quarter. Davis Investment Partners LLC lifted its position in shares of BioMarin Pharmaceutical by 3.1% in the fourth quarter. Davis Investment Partners LLC now owns 8,031 shares of the biotechnology company’s stock valued at $477,000 after acquiring an additional 243 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of BioMarin Pharmaceutical by 62.2% in the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 295 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on BMRN. Wolfe Research reiterated an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Monday, March 16th. The Goldman Sachs Group began coverage on BioMarin Pharmaceutical in a research note on Monday, May 11th. They issued a “neutral” rating and a $69.00 target price for the company. HC Wainwright dropped their target price on BioMarin Pharmaceutical from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, May 18th. Wells Fargo & Company upped their target price on BioMarin Pharmaceutical from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Finally, Canaccord Genuity Group dropped their target price on BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.67.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $56.47 on Friday. The firm has a market capitalization of $10.91 billion, a P/E ratio of 41.22, a PEG ratio of 0.41 and a beta of 0.25. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23. The stock has a fifty day moving average price of $54.25 and a 200 day moving average price of $56.33. BioMarin Pharmaceutical Inc. has a 52 week low of $49.26 and a 52 week high of $66.28.

Insider Activity

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 16,486 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total transaction of $996,743.56. Following the completion of the sale, the executive vice president directly owned 79,953 shares in the company, valued at $4,833,958.38. This represents a 17.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gregory R. Friberg sold 3,281 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $53.85, for a total value of $176,681.85. Following the sale, the executive vice president owned 51,818 shares of the company’s stock, valued at $2,790,399.30. This represents a 5.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.85% of the company’s stock.

About BioMarin Pharmaceutical

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.