Transcend Capital Advisors LLC Invests $216,000 in BioMarin Pharmaceutical Inc. $BMRN

Transcend Capital Advisors LLC purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,932 shares of the biotechnology company’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Byrne Financial Freedom LLC lifted its holdings in shares of BioMarin Pharmaceutical by 4.4% during the 1st quarter. Byrne Financial Freedom LLC now owns 3,852 shares of the biotechnology company’s stock worth $272,000 after acquiring an additional 161 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of BioMarin Pharmaceutical by 0.9% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,523 shares of the biotechnology company’s stock worth $1,592,000 after buying an additional 197 shares during the last quarter. Securian Asset Management Inc. grew its stake in shares of BioMarin Pharmaceutical by 1.4% during the second quarter. Securian Asset Management Inc. now owns 14,604 shares of the biotechnology company’s stock worth $803,000 after buying an additional 197 shares during the last quarter. Xponance Inc. grew its stake in shares of BioMarin Pharmaceutical by 0.6% during the first quarter. Xponance Inc. now owns 31,877 shares of the biotechnology company’s stock worth $2,253,000 after buying an additional 202 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of BioMarin Pharmaceutical by 5.0% during the first quarter. Nisa Investment Advisors LLC now owns 4,572 shares of the biotechnology company’s stock worth $323,000 after buying an additional 217 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BMRN. Raymond James Financial began coverage on shares of BioMarin Pharmaceutical in a research note on Wednesday, September 3rd. They set an “outperform” rating and a $85.00 target price on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $66.00 price target on shares of BioMarin Pharmaceutical in a research note on Tuesday. Morgan Stanley dropped their price target on shares of BioMarin Pharmaceutical from $104.00 to $98.00 and set an “overweight” rating for the company in a research note on Tuesday. Barclays dropped their price target on shares of BioMarin Pharmaceutical from $86.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, HC Wainwright dropped their price target on shares of BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday. Sixteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $90.70.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $51.91 on Friday. The firm has a market cap of $9.97 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 0.68 and a beta of 0.33. The company has a quick ratio of 3.60, a current ratio of 4.83 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical Inc. has a 12-month low of $51.10 and a 12-month high of $73.51. The company’s fifty day simple moving average is $54.88 and its 200 day simple moving average is $57.13.

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.