Parcion Private Wealth LLC Boosts Position in BioMarin Pharmaceutical Inc. $BMRN

Parcion Private Wealth LLC boosted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 49.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,038 shares of the biotechnology company’s stock after buying an additional 2,340 shares during the quarter. Parcion Private Wealth LLC’s holdings in BioMarin Pharmaceutical were worth $387,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of BMRN. Farther Finance Advisors LLC raised its position in BioMarin Pharmaceutical by 95.9% during the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company’s stock worth $29,000 after buying an additional 211 shares during the last quarter. GAMMA Investing LLC raised its position in BioMarin Pharmaceutical by 154.0% during the 1st quarter. GAMMA Investing LLC now owns 3,129 shares of the biotechnology company’s stock worth $221,000 after buying an additional 1,897 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in BioMarin Pharmaceutical by 92.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 44,584 shares of the biotechnology company’s stock worth $3,152,000 after buying an additional 21,383 shares during the last quarter. Janney Montgomery Scott LLC raised its position in BioMarin Pharmaceutical by 56.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 12,016 shares of the biotechnology company’s stock worth $849,000 after buying an additional 4,345 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in BioMarin Pharmaceutical by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 22,335 shares of the biotechnology company’s stock worth $1,578,000 after buying an additional 605 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BMRN has been the subject of a number of recent research reports. Zacks Research lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Wolfe Research set a $95.00 target price on shares of BioMarin Pharmaceutical and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Raymond James Financial assumed coverage on shares of BioMarin Pharmaceutical in a research note on Wednesday, September 3rd. They issued an “outperform” rating and a $85.00 target price for the company. UBS Group boosted their target price on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Finally, Wall Street Zen cut shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 11th. Thirteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $93.26.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $53.37 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 5.56. The stock has a market capitalization of $10.25 billion, a PE ratio of 15.84, a P/E/G ratio of 0.68 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a fifty-two week low of $51.56 and a fifty-two week high of $73.51. The company has a fifty day moving average of $55.42 and a two-hundred day moving average of $57.32.

About BioMarin Pharmaceutical

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.