Prospera Financial Services Inc Makes New $130,000 Investment in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Prospera Financial Services Inc acquired a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRNGet Rating) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,684 shares of the biotechnology company’s stock, valued at approximately $130,000.

Other institutional investors also recently bought and sold shares of the company. CWM LLC increased its holdings in BioMarin Pharmaceutical by 435.2% during the 1st quarter. CWM LLC now owns 487 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 396 shares during the period. CKW Financial Group increased its holdings in BioMarin Pharmaceutical by 23.1% during the 1st quarter. CKW Financial Group now owns 800 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 150 shares during the period. Itau Unibanco Holding S.A. increased its holdings in shares of BioMarin Pharmaceutical by 37.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 869 shares of the biotechnology company’s stock valued at $77,000 after acquiring an additional 236 shares during the period. Capital Analysts LLC purchased a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at $83,000. Finally, Fieldpoint Private Securities LLC purchased a new position in shares of BioMarin Pharmaceutical in the 1st quarter valued at $89,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BMRN shares. Wedbush reiterated a “hold” rating and issued a $70.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, June 24th. Credit Suisse Group lifted their price target on BioMarin Pharmaceutical from $105.00 to $106.00 and gave the company an “outperform” rating in a report on Monday, June 6th. Barclays lifted their price target on BioMarin Pharmaceutical from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday. SVB Leerink lifted their price target on BioMarin Pharmaceutical from $115.00 to $122.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Robert W. Baird restated an “outperform” rating and set a $112.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, June 28th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $110.40.

Insiders Place Their Bets

In other news, CFO Brian Mueller sold 7,337 shares of the business’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $89.50, for a total value of $656,661.50. Following the completion of the transaction, the chief financial officer now owns 30,726 shares of the company’s stock, valued at approximately $2,749,977. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Brian Mueller sold 7,337 shares of the business’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $89.50, for a total value of $656,661.50. Following the completion of the transaction, the chief financial officer now owns 30,726 shares of the company’s stock, valued at approximately $2,749,977. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP George Eric Davis sold 7,398 shares of the business’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $90.00, for a total value of $665,820.00. Following the completion of the transaction, the executive vice president now directly owns 58,941 shares of the company’s stock, valued at approximately $5,304,690. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,043 shares of company stock valued at $1,425,735. 1.75% of the stock is owned by company insiders.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $95.82 on Friday. The stock has a 50-day moving average of $82.81 and a two-hundred day moving average of $82.21. BioMarin Pharmaceutical Inc. has a one year low of $70.73 and a one year high of $96.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.28 and a current ratio of 4.88. The stock has a market cap of $17.73 billion, a P/E ratio of 368.55, a P/E/G ratio of 1.86 and a beta of 0.33.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. BioMarin Pharmaceutical had a return on equity of 1.80% and a net margin of 2.83%. During the same quarter in the previous year, the company posted $0.23 earnings per share. As a group, research analysts predict that BioMarin Pharmaceutical Inc. will post 0.95 EPS for the current year.

About BioMarin Pharmaceutical

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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.

Further Reading

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Institutional Ownership by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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