BioMarin Pharmaceutical Inc. $BMRN Shares Purchased by Engineers Gate Manager LP

Engineers Gate Manager LP boosted its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 205.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 374,814 shares of the biotechnology company’s stock after purchasing an additional 251,905 shares during the quarter. Engineers Gate Manager LP owned approximately 0.20% of BioMarin Pharmaceutical worth $22,275,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Viking Global Investors LP boosted its holdings in BioMarin Pharmaceutical by 13.8% in the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock worth $675,505,000 after purchasing an additional 1,488,552 shares during the period. Norges Bank acquired a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at $447,572,000. AQR Capital Management LLC boosted its holdings in shares of BioMarin Pharmaceutical by 12.7% during the fourth quarter. AQR Capital Management LLC now owns 6,686,916 shares of the biotechnology company’s stock valued at $395,197,000 after acquiring an additional 754,807 shares during the period. Geode Capital Management LLC boosted its holdings in shares of BioMarin Pharmaceutical by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 3,674,089 shares of the biotechnology company’s stock valued at $218,395,000 after acquiring an additional 131,969 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of BioMarin Pharmaceutical by 48.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,321,754 shares of the biotechnology company’s stock valued at $197,405,000 after acquiring an additional 1,076,568 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $55.02 on Thursday. BioMarin Pharmaceutical Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $66.28. The firm’s 50-day simple moving average is $54.32 and its 200 day simple moving average is $56.42. The company has a quick ratio of 4.20, a current ratio of 5.81 and a debt-to-equity ratio of 0.23. The stock has a market cap of $10.63 billion, a P/E ratio of 40.16, a P/E/G ratio of 0.42 and a beta of 0.25.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of the business’s 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 directly owned 51,818 shares in the company, valued at approximately $2,790,399.30. The trade was a 5.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BMRN. Guggenheim reduced their price target on shares of BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Loop Capital set a $105.00 price target on shares of BioMarin Pharmaceutical in a report on Monday, March 2nd. Weiss Ratings downgraded shares of BioMarin Pharmaceutical from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 11th. Stifel Nicolaus set a $68.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, February 24th. Finally, The Goldman Sachs Group began coverage on shares of BioMarin Pharmaceutical in a report on Monday, May 11th. They set a “neutral” rating and a $69.00 price target for the company. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.67.

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.