Continuum Advisory LLC Buys Shares of 101,420 BioMarin Pharmaceutical Inc. $BMRN

Continuum Advisory LLC bought a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 101,420 shares of the biotechnology company’s stock, valued at approximately $6,027,000. Continuum Advisory LLC owned about 0.05% of BioMarin Pharmaceutical at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Activest Wealth Management purchased a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of BioMarin Pharmaceutical in the 3rd quarter valued at approximately $40,000. Smartleaf Asset Management LLC grew its stake in shares of BioMarin Pharmaceutical by 92.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 360 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $45,000. Finally, Parallel Advisors LLC grew its stake in shares of BioMarin Pharmaceutical by 62.2% in the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 295 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $56.47 on Friday. The stock has a fifty day moving average price of $54.25 and a 200 day moving average price of $56.33. The stock has a market cap of $10.91 billion, a PE ratio of 41.22, a P/E/G ratio of 0.41 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a 1 year low of $49.26 and a 1 year high of $66.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.20 and a current ratio of 5.81.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 16,486 shares of BioMarin Pharmaceutical stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total transaction of $996,743.56. Following the completion of the transaction, the executive vice president directly owned 79,953 shares of the company’s stock, valued at approximately $4,833,958.38. The trade was a 17.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Gregory R. Friberg sold 3,281 shares of BioMarin Pharmaceutical stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $53.85, for a total value of $176,681.85. Following the transaction, the executive vice president directly owned 51,818 shares of the company’s stock, valued at approximately $2,790,399.30. This represents a 5.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

BMRN has been the topic of a number of analyst reports. Wall Street Zen upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Bank of America decreased their price target on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Citigroup initiated coverage on BioMarin Pharmaceutical in a research note on Tuesday, May 19th. They issued a “buy” rating and a $75.00 price target on the stock. HC Wainwright decreased their price target on BioMarin Pharmaceutical from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, May 18th. Finally, Loop Capital set a $105.00 price target on BioMarin Pharmaceutical in a research note on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.67.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.