Level Wealth Management LLC Acquires New Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Level Wealth Management LLC bought a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 9,543 shares of the biotechnology company's stock, valued at approximately $627,000. BioMarin Pharmaceutical makes up 0.4% of Level Wealth Management LLC's investment portfolio, making the stock its 24th largest holding.

Other large investors also recently modified their holdings of the company. AQR Capital Management LLC increased its position in shares of BioMarin Pharmaceutical by 144.3% during the 2nd quarter. AQR Capital Management LLC now owns 55,372 shares of the biotechnology company's stock valued at $4,559,000 after purchasing an additional 32,709 shares during the last quarter. Creative Planning grew its holdings in BioMarin Pharmaceutical by 4.6% during the 2nd quarter. Creative Planning now owns 11,825 shares of the biotechnology company's stock valued at $974,000 after buying an additional 524 shares in the last quarter. NewEdge Advisors LLC grew its holdings in BioMarin Pharmaceutical by 3,931.5% during the 2nd quarter. NewEdge Advisors LLC now owns 10,885 shares of the biotechnology company's stock valued at $896,000 after buying an additional 10,615 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter valued at about $1,783,000. Finally, Handelsbanken Fonder AB boosted its position in shares of BioMarin Pharmaceutical by 2.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 124,022 shares of the biotechnology company's stock valued at $8,718,000 after acquiring an additional 2,456 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Price Performance

BMRN traded up $1.34 on Wednesday, hitting $64.21. 538,969 shares of the company's stock traded hands, compared to its average volume of 1,621,653. The company's 50 day simple moving average is $65.06 and its 200-day simple moving average is $72.52. The firm has a market cap of $12.24 billion, a price-to-earnings ratio of 38.47, a P/E/G ratio of 0.55 and a beta of 0.28. BioMarin Pharmaceutical Inc. has a one year low of $60.63 and a one year high of $94.85. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total value of $350,300.86. Following the sale, the executive vice president now owns 68,909 shares of the company's stock, valued at $4,573,490.33. The trade was a 7.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.85% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BMRN. Robert W. Baird dropped their price target on BioMarin Pharmaceutical from $72.00 to $65.00 and set a "neutral" rating for the company in a research report on Wednesday, October 30th. Wedbush raised BioMarin Pharmaceutical to a "strong-buy" rating in a research note on Monday, November 4th. UBS Group boosted their target price on BioMarin Pharmaceutical from $104.00 to $106.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Evercore ISI reduced their target price on BioMarin Pharmaceutical from $115.00 to $105.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. Finally, Citigroup reduced their price target on BioMarin Pharmaceutical from $93.00 to $81.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $94.20.

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.