BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Position Increased by Industrial Alliance Investment Management Inc.

Industrial Alliance Investment Management Inc. raised its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Get Rating) by 4.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,060 shares of the biotechnology company’s stock after buying an additional 2,030 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in BioMarin Pharmaceutical were worth $3,989,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BMRN. Raymond James Financial Services Advisors Inc. boosted its holdings in BioMarin Pharmaceutical by 225.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 16,838 shares of the biotechnology company’s stock worth $1,298,000 after buying an additional 11,672 shares in the last quarter. American Century Companies Inc. boosted its holdings in BioMarin Pharmaceutical by 64.6% during the first quarter. American Century Companies Inc. now owns 11,312 shares of the biotechnology company’s stock worth $872,000 after buying an additional 4,440 shares in the last quarter. Cetera Advisor Networks LLC boosted its holdings in BioMarin Pharmaceutical by 38.3% during the first quarter. Cetera Advisor Networks LLC now owns 5,525 shares of the biotechnology company’s stock worth $426,000 after buying an additional 1,530 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in BioMarin Pharmaceutical by 14.4% during the first quarter. PNC Financial Services Group Inc. now owns 8,362 shares of the biotechnology company’s stock worth $644,000 after buying an additional 1,055 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in BioMarin Pharmaceutical by 395.4% during the first quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock worth $32,000 after buying an additional 344 shares in the last quarter. 96.26% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Jean Jacques Bienaime sold 8,000 shares of the firm’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $90.45, for a total transaction of $723,600.00. Following the transaction, the chief executive officer now owns 487,856 shares in the company, valued at approximately $44,126,575.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jean Jacques Bienaime sold 8,000 shares of the firm’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $90.45, for a total value of $723,600.00. Following the transaction, the chief executive officer now directly owns 487,856 shares in the company, valued at approximately $44,126,575.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey Robert Ajer sold 49,000 shares of the firm’s stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $115.70, for a total transaction of $5,669,300.00. Following the completion of the transaction, the executive vice president now owns 41,088 shares in the company, valued at $4,753,881.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,500 shares of company stock worth $12,607,900. 1.75% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical Stock Down 2.8 %

BioMarin Pharmaceutical stock opened at $87.74 on Thursday. The company has a market capitalization of $16.37 billion, a P/E ratio of 118.57 and a beta of 0.39. The firm’s fifty day simple moving average is $106.62 and its 200-day simple moving average is $97.59. The company has a current ratio of 4.67, a quick ratio of 3.15 and a debt-to-equity ratio of 0.24. BioMarin Pharmaceutical Inc. has a 1-year low of $70.73 and a 1-year high of $117.77.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Bank of America upped their price target on shares of BioMarin Pharmaceutical to $200.00 in a research report on Wednesday, January 4th. Guggenheim restated a “buy” rating and issued a $125.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, February 28th. Credit Suisse Group upped their price target on shares of BioMarin Pharmaceutical from $110.00 to $127.00 and gave the company an “outperform” rating in a research report on Tuesday, February 28th. SVB Leerink upped their price target on shares of BioMarin Pharmaceutical from $122.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. Finally, Wedbush reduced their price target on shares of BioMarin Pharmaceutical from $83.00 to $74.00 and set a “neutral” rating for the company in a research report on Tuesday, February 28th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $120.11.

About BioMarin Pharmaceutical

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BioMarin Pharmaceutical, Inc engages in the development and commercialization of therapies for people with serious and life-threatening rare diseases and medical conditions. Its pipeline products include Valoctocogene roxaparvovec, Vosoritide, and BMN 307. The company was founded by John C. Klock, Christopher M.