Eversept Partners LP lowered its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Free Report) by 36.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 93,748 shares of the biotechnology company’s stock after selling 52,894 shares during the quarter. Eversept Partners LP’s holdings in BioMarin Pharmaceutical were worth $5,571,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of BMRN. Activest Wealth Management acquired a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth $26,000. CIBC Private Wealth Group LLC lifted its holdings in shares of BioMarin Pharmaceutical by 38.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after buying an additional 179 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of BioMarin Pharmaceutical by 92.5% during the third quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock worth $40,000 after buying an additional 360 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of BioMarin Pharmaceutical during the third quarter worth $40,000. Finally, Parallel Advisors LLC lifted its holdings in shares of BioMarin Pharmaceutical by 62.2% during the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after buying an additional 295 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.
Wall Street Analyst Weigh In
BMRN has been the subject of a number of research reports. Guggenheim dropped their target price on BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Sanford C. Bernstein dropped their price target on BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. Oppenheimer dropped their price target on BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. Morgan Stanley dropped their price target on BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating for the company in a research note on Tuesday, May 5th. Finally, Wolfe Research reaffirmed an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Monday, March 16th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.67.
Insider Transactions at BioMarin Pharmaceutical
In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $53.85, for a total value of $176,681.85. Following the transaction, the executive vice president owned 51,818 shares in the company, valued at $2,790,399.30. The trade was a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.85% of the stock is currently owned by corporate insiders.
BioMarin Pharmaceutical Stock Down 0.2%
BMRN stock opened at $55.02 on Thursday. The company has a market cap of $10.63 billion, a PE ratio of 40.16, a price-to-earnings-growth ratio of 0.42 and a beta of 0.25. The business has a 50-day simple moving average of $54.32 and a 200 day simple moving average of $56.42. BioMarin Pharmaceutical Inc. has a 52 week low of $49.26 and a 52 week high of $66.28. The company has a quick ratio of 4.20, a current ratio of 5.81 and a debt-to-equity ratio of 0.23.
About BioMarin Pharmaceutical
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.
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