Collaborative Fund Advisors LLC Purchases New Stake in BioMarin Pharmaceutical Inc. $BMRN

Collaborative Fund Advisors LLC purchased a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 36,312 shares of the biotechnology company’s stock, valued at approximately $2,051,000. BioMarin Pharmaceutical makes up approximately 1.3% of Collaborative Fund Advisors LLC’s holdings, making the stock its 21st largest holding.

Other institutional investors also recently bought and sold shares of the company. Praxis Investment Management Inc. acquired a new position in shares of BioMarin Pharmaceutical during the 1st quarter valued at $317,000. QRG Capital Management Inc. acquired a new stake in BioMarin Pharmaceutical in the 1st quarter valued at $295,000. 4WEALTH Advisors Inc. raised its position in BioMarin Pharmaceutical by 8.8% in the first quarter. 4WEALTH Advisors Inc. now owns 3,880 shares of the biotechnology company’s stock valued at $213,000 after purchasing an additional 313 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in BioMarin Pharmaceutical in the first quarter valued at about $310,000. Finally, Root Financial Partners LLC lifted its stake in shares of BioMarin Pharmaceutical by 442.6% during the first quarter. Root Financial Partners LLC now owns 2,116 shares of the biotechnology company’s stock worth $120,000 after purchasing an additional 1,726 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $58.99 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.20 and a current ratio of 5.81. BioMarin Pharmaceutical Inc. has a 1 year low of $49.26 and a 1 year high of $66.28. The stock’s 50-day simple moving average is $54.80 and its 200-day simple moving average is $56.71. The firm has a market cap of $11.40 billion, a price-to-earnings ratio of 43.06, a PEG ratio of 0.45 and a beta of 0.24.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BMRN. The Goldman Sachs Group initiated coverage on BioMarin Pharmaceutical in a research note on Monday, May 11th. They issued a “neutral” rating and a $69.00 target price for the company. Citigroup assumed coverage on BioMarin Pharmaceutical in a research report on Tuesday, May 19th. They set a “buy” rating and a $75.00 price target on the stock. Sanford C. Bernstein decreased their price target on BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Wall Street Zen downgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Canaccord Genuity Group dropped their price objective on shares of BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and a consensus target price of $88.67.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $53.85, for a total transaction of $176,681.85. Following the sale, the executive vice president directly owned 51,818 shares in the company, valued at $2,790,399.30. The trade was a 5.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.85% of the stock is currently owned by company insiders.

BioMarin Pharmaceutical 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.