Transcend Capital Advisors LLC Purchases Shares of 3,932 BioMarin Pharmaceutical Inc. $BMRN

Transcend Capital Advisors LLC purchased a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,932 shares of the biotechnology company’s stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in BioMarin Pharmaceutical in the second quarter valued at $200,000. Envestnet Asset Management Inc. increased its stake in BioMarin Pharmaceutical by 15.4% in the second quarter. Envestnet Asset Management Inc. now owns 50,753 shares of the biotechnology company’s stock valued at $2,790,000 after purchasing an additional 6,777 shares in the last quarter. Brighton Jones LLC bought a new stake in BioMarin Pharmaceutical in the second quarter valued at $1,126,000. AlphaQuest LLC increased its stake in BioMarin Pharmaceutical by 39.2% in the second quarter. AlphaQuest LLC now owns 35,156 shares of the biotechnology company’s stock valued at $1,933,000 after purchasing an additional 9,895 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of BioMarin Pharmaceutical by 5.3% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 492,104 shares of the biotechnology company’s stock valued at $27,051,000 after buying an additional 24,859 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Stock Up 0.1%

BMRN opened at $51.91 on Friday. The company has a quick ratio of 3.60, a current ratio of 4.83 and a debt-to-equity ratio of 0.10. The stock 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. BioMarin Pharmaceutical Inc. has a twelve month low of $51.10 and a twelve month high of $73.51. The company’s 50-day moving average price is $54.88 and its two-hundred day moving average price is $57.13.

Wall Street Analyst Weigh In

BMRN has been the subject of several recent research reports. Wells Fargo & Company decreased their target price on shares of BioMarin Pharmaceutical from $90.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday. Zacks Research downgraded shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Truist Financial cut their price target on shares of BioMarin Pharmaceutical from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday. UBS Group boosted their price target on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Finally, Barclays cut their price target on shares of BioMarin Pharmaceutical from $86.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday. Sixteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $90.70.

BioMarin Pharmaceutical Company Profile

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.