BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC trimmed its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,353 shares of the biotechnology company’s stock after selling 187 shares during the period. WCM Investment Management LLC’s holdings in BioMarin Pharmaceutical were worth $1,240,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BMRN. Proficio Capital Partners LLC acquired a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth $920,000. Metis Global Partners LLC lifted its stake in shares of BioMarin Pharmaceutical by 4.3% during the fourth quarter. Metis Global Partners LLC now owns 5,686 shares of the biotechnology company’s stock worth $374,000 after buying an additional 236 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of BioMarin Pharmaceutical by 111.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company’s stock worth $58,000 after buying an additional 466 shares during the period. SBI Securities Co. Ltd. acquired a new position in BioMarin Pharmaceutical during the fourth quarter valued at $36,000. Finally, Charles Schwab Investment Management Inc. lifted its position in BioMarin Pharmaceutical by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,423,508 shares of the biotechnology company’s stock valued at $93,567,000 after purchasing an additional 21,880 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,786 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total transaction of $105,927.66. Following the completion of the sale, the chief accounting officer owned 14,173 shares of the company’s stock, valued at approximately $840,600.63. This represents a 11.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BMRN. Citigroup decreased their target price on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. The Goldman Sachs Group decreased their target price on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Morgan Stanley began coverage on shares of BioMarin Pharmaceutical in a research report on Thursday. They set an “overweight” rating and a $97.00 target price for the company. Finally, Wall Street Zen upgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 25th. Six equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and an average price target of $93.61.

BioMarin Pharmaceutical Stock Up 0.1%

Shares of NASDAQ BMRN opened at $57.25 on Friday. BioMarin Pharmaceutical Inc. has a 12-month low of $52.93 and a 12-month high of $94.85. The stock has a market cap of $10.98 billion, a PE ratio of 21.28, a P/E/G ratio of 0.78 and a beta of 0.17. The company has a current ratio of 5.52, a quick ratio of 3.49 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average of $58.00 and a 200 day moving average of $62.99.

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.