BioMarin Pharmaceutical Inc. $BMRN Shares Acquired by Eversept Partners LP

Eversept Partners LP boosted its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 121.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 207,768 shares of the biotechnology company’s stock after buying an additional 114,020 shares during the period. Eversept Partners LP owned 0.11% of BioMarin Pharmaceutical worth $11,737,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Activest Wealth Management bought a new position in BioMarin Pharmaceutical during the 4th quarter valued at $26,000. CIBC Private Wealth Group LLC raised its stake in shares of BioMarin Pharmaceutical by 38.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after buying an additional 179 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of BioMarin Pharmaceutical in the third quarter valued at $40,000. Parallel Advisors LLC lifted its holdings 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 valued at $42,000 after buying an additional 295 shares during the period. Finally, V Square Quantitative Management LLC bought a new position in BioMarin Pharmaceutical during the fourth quarter valued at about $45,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Royal Bank Of Canada dropped their price target on shares of BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 7th. Morgan Stanley reduced their price objective on shares of BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating for the company in a research report on Tuesday, May 5th. Sanford C. Bernstein lowered their price objective on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Weiss Ratings upgraded shares of BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, June 26th. Finally, The Goldman Sachs Group began coverage on shares of BioMarin Pharmaceutical in a research note on Monday, May 11th. They set a “neutral” rating and a $69.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.26.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $60.27 on Tuesday. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23. BioMarin Pharmaceutical Inc. has a one year low of $49.26 and a one year high of $66.28. The firm has a market capitalization of $11.65 billion, a PE ratio of 43.99, a P/E/G ratio of 0.45 and a beta of 0.24. The firm has a 50-day moving average of $56.75 and a two-hundred day moving average of $56.82.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, 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 transaction of $176,681.85. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.68% of the company’s stock.

BioMarin Pharmaceutical Company 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.