Hudson Bay Capital Management LP Raises Stock Holdings in BioMarin Pharmaceutical Inc. $BMRN

Hudson Bay Capital Management LP increased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 31.8% during the 3rd quarter, Holdings Channel reports. The firm owned 693,894 shares of the biotechnology company’s stock after purchasing an additional 167,474 shares during the quarter. Hudson Bay Capital Management LP’s holdings in BioMarin Pharmaceutical were worth $37,581,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BMRN. Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of BioMarin Pharmaceutical in the 3rd quarter worth $1,047,000. Jump Financial LLC lifted its holdings in shares of BioMarin Pharmaceutical by 530.3% during the 2nd quarter. Jump Financial LLC now owns 291,217 shares of the biotechnology company’s stock worth $16,008,000 after acquiring an additional 245,017 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of BioMarin Pharmaceutical by 90.7% during the 2nd quarter. AQR Capital Management LLC now owns 5,580,573 shares of the biotechnology company’s stock worth $306,429,000 after acquiring an additional 2,654,768 shares during the last quarter. Federated Hermes Inc. grew its position in BioMarin Pharmaceutical by 292.6% in the third quarter. Federated Hermes Inc. now owns 278,315 shares of the biotechnology company’s stock worth $15,074,000 after acquiring an additional 207,430 shares in the last quarter. Finally, Mediolanum International Funds Ltd increased its stake in BioMarin Pharmaceutical by 56.2% in the third quarter. Mediolanum International Funds Ltd now owns 137,675 shares of the biotechnology company’s stock valued at $7,437,000 after acquiring an additional 49,534 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Charles Greg Guyer sold 16,486 shares of BioMarin Pharmaceutical stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $60.46, for a total value of $996,743.56. Following the sale, the executive vice president owned 79,953 shares in the company, valued at $4,833,958.38. The trade was a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gregory R. Friberg sold 6,326 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $60.38, for a total transaction of $381,963.88. Following the transaction, the executive vice president directly owned 37,578 shares in the company, valued at approximately $2,268,959.64. The trade was a 14.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of BMRN stock opened at $55.43 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.50 and a current ratio of 5.21. BioMarin Pharmaceutical Inc. has a fifty-two week low of $50.76 and a fifty-two week high of $73.18. The firm has a market cap of $10.66 billion, a P/E ratio of 31.14, a P/E/G ratio of 0.55 and a beta of 0.25. The business’s 50 day moving average price is $58.74 and its 200-day moving average price is $56.29.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BMRN shares. Leerink Partners downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $82.00 to $60.00 in a research report on Wednesday, December 3rd. Jefferies Financial Group reiterated a “buy” rating and issued a $103.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, March 12th. Oppenheimer reduced their price objective on BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Weiss Ratings reissued a “sell (d)” rating on shares of BioMarin Pharmaceutical in a report on Monday, December 29th. Finally, Sanford C. Bernstein boosted their target price on BioMarin Pharmaceutical from $90.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Seventeen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $90.00.

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.