BioMarin Pharmaceutical Inc. $BMRN Shares Purchased by Boone Capital Management LLC

Boone Capital Management LLC grew its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 25.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 411,880 shares of the biotechnology company’s stock after acquiring an additional 83,334 shares during the period. BioMarin Pharmaceutical comprises about 8.2% of Boone Capital Management LLC’s holdings, making the stock its 5th biggest position. Boone Capital Management LLC’s holdings in BioMarin Pharmaceutical were worth $24,478,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. CIBC Private Wealth Group LLC lifted its position in shares of BioMarin Pharmaceutical by 38.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock valued at $39,000 after acquiring an additional 179 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its position in shares of BioMarin Pharmaceutical by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 42,982 shares of the biotechnology company’s stock valued at $2,554,000 after acquiring an additional 183 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of BioMarin Pharmaceutical by 7.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,741 shares of the biotechnology company’s stock valued at $163,000 after acquiring an additional 195 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of BioMarin Pharmaceutical by 3.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 7,151 shares of the biotechnology company’s stock valued at $387,000 after acquiring an additional 235 shares during the period. Finally, Davis Investment Partners LLC lifted its position in shares of BioMarin Pharmaceutical by 3.1% during the 4th quarter. Davis Investment Partners LLC now owns 8,031 shares of the biotechnology company’s stock valued at $477,000 after acquiring an additional 243 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Trading Down 0.2%

Shares of BMRN opened at $55.02 on Thursday. 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 50 day simple moving average of $54.32 and a 200-day simple moving average of $56.42. BioMarin Pharmaceutical Inc. has a 1-year low of $49.26 and a 1-year high of $66.28. The stock 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.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Gregory R. Friberg sold 3,281 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $53.85, for a total transaction of $176,681.85. Following the completion of the transaction, the executive vice president directly owned 51,818 shares of the company’s stock, valued at $2,790,399.30. This trade represents a 5.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BMRN. Truist Financial upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Wednesday, March 25th. Wolfe Research reiterated an “outperform” rating on shares of BioMarin Pharmaceutical in a research report on Monday, March 16th. Wells Fargo & Company lifted their price target on shares of BioMarin Pharmaceutical from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Loop Capital set a $105.00 price target on shares of BioMarin Pharmaceutical in a research report on Monday, March 2nd. Finally, The Goldman Sachs Group began coverage on shares of BioMarin Pharmaceutical in a research report on Monday, May 11th. They set a “neutral” rating and a $69.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.67.

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.