Havemeyer Place LP Invests $1.74 Million in BioMarin Pharmaceutical Inc. $BMRN

Havemeyer Place LP bought a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 29,329 shares of the biotechnology company’s stock, valued at approximately $1,743,000.

Several other hedge funds and other institutional investors have also modified their holdings of BMRN. Norges Bank acquired a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth $447,572,000. Capital Research Global Investors boosted its position in BioMarin Pharmaceutical by 547.5% during the third quarter. Capital Research Global Investors now owns 2,537,596 shares of the biotechnology company’s stock valued at $137,436,000 after purchasing an additional 2,145,717 shares during the last quarter. Viking Global Investors LP boosted its position in BioMarin Pharmaceutical by 13.8% during the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock valued at $675,505,000 after purchasing an additional 1,488,552 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in BioMarin Pharmaceutical by 312.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,419,067 shares of the biotechnology company’s stock valued at $84,335,000 after purchasing an additional 1,074,929 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in BioMarin Pharmaceutical by 3,494.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 957,011 shares of the biotechnology company’s stock valued at $56,875,000 after purchasing an additional 930,390 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Insider Activity

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 16,486 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total transaction of $996,743.56. Following the transaction, the executive vice president directly owned 79,953 shares in the company, valued at $4,833,958.38. This trade represents a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory R. Friberg sold 3,281 shares of the firm’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 transaction, the executive vice president owned 51,818 shares in the company, valued at approximately $2,790,399.30. This trade represents a 5.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.85% of the stock is owned by company insiders.

BioMarin Pharmaceutical Price Performance

NASDAQ BMRN opened at $56.77 on Friday. BioMarin Pharmaceutical Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $66.28. The stock’s 50-day moving average is $54.27 and its two-hundred day moving average is $56.33. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.81 and a quick ratio of 4.20. The firm has a market cap of $10.97 billion, a P/E ratio of 41.44, a price-to-earnings-growth ratio of 0.43 and a beta of 0.25.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wolfe Research reissued an “outperform” rating on shares of BioMarin Pharmaceutical in a research report on Monday, March 16th. Barclays lifted their price objective on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Sanford C. Bernstein reduced their price objective on BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. HC Wainwright reduced their price objective on BioMarin Pharmaceutical from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, May 18th. Finally, Canaccord Genuity Group reduced their price objective on BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.