Stoneridge Investment Partners LLC Buys 6,355 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Stoneridge Investment Partners LLC lifted its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 151.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,545 shares of the biotechnology company’s stock after buying an additional 6,355 shares during the period. Stoneridge Investment Partners LLC’s holdings in BioMarin Pharmaceutical were worth $693,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. nVerses Capital LLC purchased a new position in BioMarin Pharmaceutical in the 3rd quarter worth approximately $28,000. TD Private Client Wealth LLC increased its stake in shares of BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after buying an additional 186 shares during the period. Meeder Asset Management Inc. raised its holdings in BioMarin Pharmaceutical by 920.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after buying an additional 663 shares during the last quarter. GAMMA Investing LLC raised its holdings in BioMarin Pharmaceutical by 56.1% during the 3rd quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock valued at $55,000 after buying an additional 281 shares during the last quarter. Finally, True Wealth Design LLC boosted its position in BioMarin Pharmaceutical by 13,400.0% during the 3rd quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock valued at $57,000 after buying an additional 804 shares during the period. Institutional investors own 98.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, December 12th. Robert W. Baird lowered their price target on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. UBS Group lifted their price objective on BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wedbush raised BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. dropped their price target on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $94.20.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $63.93 on Friday. The business has a 50-day simple moving average of $64.97 and a two-hundred day simple moving average of $72.26. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 52 week low of $60.63 and a 52 week high of $94.85. The stock has a market cap of $12.18 billion, a price-to-earnings ratio of 38.28, a PEG ratio of 0.57 and a beta of 0.28.

Insider Buying and Selling

In related news, EVP Charles Greg Guyer sold 5,278 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total value of $350,300.86. Following the transaction, the executive vice president now directly owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. The trade was a 7.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.85% of the stock is currently owned by 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.