Ishara Investments LP Purchases New Shares in BioMarin Pharmaceutical Inc. $BMRN

Ishara Investments LP purchased a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 100,000 shares of the biotechnology company’s stock, valued at approximately $5,943,000. BioMarin Pharmaceutical accounts for 6.9% of Ishara Investments LP’s holdings, making the stock its 3rd biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its position in BioMarin Pharmaceutical by 16.6% during the fourth quarter. Janus Henderson Group PLC now owns 276,330 shares of the biotechnology company’s stock valued at $16,424,000 after buying an additional 39,302 shares during the period. Gotham Asset Management LLC grew its position in BioMarin Pharmaceutical by 1.6% during the fourth quarter. Gotham Asset Management LLC now owns 269,511 shares of the biotechnology company’s stock valued at $16,017,000 after buying an additional 4,179 shares during the period. Evolve Private Wealth LLC acquired a new stake in BioMarin Pharmaceutical during the fourth quarter valued at $453,000. Elmind Capital LP acquired a new stake in BioMarin Pharmaceutical during the fourth quarter valued at $4,873,000. Finally, Engineers Gate Manager LP grew its position in BioMarin Pharmaceutical by 205.0% during the fourth quarter. Engineers Gate Manager LP now owns 374,814 shares of the biotechnology company’s stock valued at $22,275,000 after buying an additional 251,905 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on BMRN. HC Wainwright dropped their price target on shares of BioMarin Pharmaceutical from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, May 18th. Wolfe Research restated an “outperform” rating on shares of BioMarin Pharmaceutical in a research report on Monday, March 16th. Loop Capital set a $105.00 target price on shares of BioMarin Pharmaceutical in a research report on Monday, March 2nd. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $66.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday, May 5th. Finally, Citigroup began coverage on shares of BioMarin Pharmaceutical in a research report on Tuesday, May 19th. They issued a “buy” rating and a $75.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.67.

Insider Activity

In other news, EVP Gregory R. Friberg sold 3,281 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $53.85, for a total value of $176,681.85. Following the sale, the executive vice president owned 51,818 shares in the company, valued at $2,790,399.30. This trade represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.85% of the stock is currently owned by company insiders.

BioMarin Pharmaceutical Stock Down 0.2%

Shares of NASDAQ BMRN opened at $55.02 on Thursday. The company’s 50-day simple moving average is $54.32 and its 200-day simple moving average is $56.42. BioMarin Pharmaceutical Inc. has a 52-week low of $49.26 and a 52-week high of $66.28. The firm has a market cap of $10.63 billion, a price-to-earnings ratio of 40.16, a price-to-earnings-growth 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.

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.