Moore Capital Management LP bought a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Free Report) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 325,000 shares of the biotechnology company’s stock, valued at approximately $19,315,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Activest Wealth Management purchased a new stake in BioMarin Pharmaceutical in the 4th quarter worth approximately $26,000. CIBC Private Wealth Group LLC grew its stake in BioMarin Pharmaceutical by 38.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 179 shares during the period. Smartleaf Asset Management LLC grew its stake in BioMarin Pharmaceutical by 92.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 360 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in BioMarin Pharmaceutical in the 3rd quarter worth approximately $40,000. Finally, Parallel Advisors LLC grew its stake in BioMarin Pharmaceutical by 62.2% in the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 295 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
BMRN has been the subject of several recent analyst reports. Barclays lifted their target price on shares of BioMarin Pharmaceutical from $80.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. Loop Capital set a $105.00 target price on shares of BioMarin Pharmaceutical in a research note on Monday, March 2nd. Wells Fargo & Company lifted their target price on shares of BioMarin Pharmaceutical from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Stifel Nicolaus set a $68.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, February 24th. Finally, Wolfe Research reaffirmed an “outperform” rating on shares of BioMarin Pharmaceutical in a research report on Monday, March 16th. Two equities research 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.67.
BioMarin Pharmaceutical Price Performance
BioMarin Pharmaceutical stock opened at $55.02 on Thursday. BioMarin Pharmaceutical Inc. has a 52-week low of $49.26 and a 52-week high of $66.28. The firm has a fifty day moving average of $54.32 and a 200-day moving average of $56.42. The firm has a market capitalization of $10.63 billion, a P/E ratio of 40.16, a PEG ratio of 0.42 and a beta of 0.25. The company has a quick ratio of 4.20, a current ratio of 5.81 and a debt-to-equity ratio of 0.23.
Insider Activity
In other news, EVP Gregory R. Friberg sold 3,281 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $53.85, for a total value of $176,681.85. Following the completion of the sale, the executive vice president owned 51,818 shares of the company’s stock, valued at $2,790,399.30. This represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.85% of the stock is owned by insiders.
BioMarin Pharmaceutical Profile
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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