Simplicity Wealth LLC Reduces Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Simplicity Wealth LLC reduced its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 13.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,548 shares of the biotechnology company’s stock after selling 410 shares during the quarter. Simplicity Wealth LLC’s holdings in BioMarin Pharmaceutical were worth $210,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BMRN. Lindbrook Capital LLC increased its holdings in BioMarin Pharmaceutical by 259.8% during the 4th quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 278 shares during the period. Quent Capital LLC increased its holdings in BioMarin Pharmaceutical by 58.9% during the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 145 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in BioMarin Pharmaceutical by 135.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 249 shares during the period. Jones Financial Companies Lllp bought a new stake in BioMarin Pharmaceutical during the 4th quarter worth approximately $43,000. Finally, First Horizon Advisors Inc. increased its holdings in BioMarin Pharmaceutical by 33.3% during the 4th quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 144 shares during the period. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Up 0.4 %

Shares of BioMarin Pharmaceutical stock opened at $89.03 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.74 and a quick ratio of 1.70. The company has a 50-day moving average of $83.90 and a 200 day moving average of $84.81. The firm has a market cap of $16.91 billion, a price-to-earnings ratio of 83.21, a PEG ratio of 1.20 and a beta of 0.32. BioMarin Pharmaceutical Inc. has a 1 year low of $73.68 and a 1 year high of $99.56.

Analyst Ratings Changes

A number of analysts recently weighed in on BMRN shares. Baird R W lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Wells Fargo & Company increased their price target on shares of BioMarin Pharmaceutical from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Stifel Nicolaus increased their price target on shares of BioMarin Pharmaceutical from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Scotiabank increased their price target on shares of BioMarin Pharmaceutical from $85.00 to $86.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 6th. Finally, Morgan Stanley reduced their target price on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $103.63.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 40,850 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $74.51, for a total transaction of $3,043,733.50. Following the completion of the sale, the executive vice president now directly owns 56,157 shares in the company, valued at approximately $4,184,258.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other BioMarin Pharmaceutical news, CFO Brian Mueller sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $75.19, for a total transaction of $375,950.00. Following the completion of the sale, the chief financial officer now directly owns 72,159 shares in the company, valued at approximately $5,425,635.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP George Eric Davis sold 40,850 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $74.51, for a total transaction of $3,043,733.50. Following the completion of the sale, the executive vice president now owns 56,157 shares of the company’s stock, valued at $4,184,258.07. The disclosure for this sale can be found here. 1.85% of the stock is owned by company insiders.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.