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

Havemeyer Place LP acquired a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 29,329 shares of the biotechnology company’s stock, valued at approximately $1,743,000.

Other institutional investors have also made changes to their positions in the company. Activest Wealth Management bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth about $26,000. Caitong International Asset Management Co. Ltd bought a new position in shares of BioMarin Pharmaceutical in the third quarter worth about $40,000. Smartleaf Asset Management LLC increased its stake in shares of BioMarin Pharmaceutical by 92.5% in the third quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 360 shares during the period. V Square Quantitative Management LLC bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth about $45,000. Finally, Parallel Advisors LLC increased its stake in shares of BioMarin Pharmaceutical by 62.2% in the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 295 shares during the period. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Stock Up 0.5%

NASDAQ BMRN opened at $56.77 on Friday. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average is $54.27 and its two-hundred day moving average is $56.33. The company has a market capitalization of $10.97 billion, a price-to-earnings ratio of 41.44, a PEG ratio of 0.43 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a 1-year low of $49.26 and a 1-year high of $66.28.

Wall Street Analyst Weigh In

BMRN has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $68.00 price objective on BioMarin Pharmaceutical in a research note on Tuesday, February 24th. Bank of America lowered their price target on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Oppenheimer lowered their price target on BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 24th. Morgan Stanley lowered their price target on BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 5th. Finally, Weiss Ratings upgraded BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.67.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 16,486 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total transaction of $996,743.56. Following the sale, the executive vice president directly owned 79,953 shares of the company’s stock, valued at approximately $4,833,958.38. The trade was a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory R. Friberg sold 3,281 shares of BioMarin Pharmaceutical stock in a transaction that occurred 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 sale, the executive vice president directly owned 51,818 shares in the company, valued at $2,790,399.30. The trade was a 5.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.85% of the stock is currently owned by insiders.

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.