Elmind Capital LP Has $2.65 Million Stock Position in BioMarin Pharmaceutical Inc. $BMRN

Elmind Capital LP lowered its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 42.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 47,000 shares of the biotechnology company’s stock after selling 35,000 shares during the period. BioMarin Pharmaceutical makes up 0.8% of Elmind Capital LP’s holdings, making the stock its 25th biggest holding. Elmind Capital LP’s holdings in BioMarin Pharmaceutical were worth $2,655,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of BMRN. Activest Wealth Management bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $26,000. CIBC Private Wealth Group LLC increased its position in BioMarin Pharmaceutical by 38.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 179 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in BioMarin Pharmaceutical in the 3rd quarter valued at approximately $40,000. Parallel Advisors LLC lifted its stake in BioMarin Pharmaceutical by 62.2% in the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 295 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in BioMarin Pharmaceutical in the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

Insider Activity

In other news, EVP Gregory R. Friberg sold 3,281 shares of the stock in a transaction 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 sale, the executive vice president directly owned 51,818 shares in the company, valued at $2,790,399.30. This represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

BMRN has been the topic of a number of research reports. Wall Street Zen cut shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. The Goldman Sachs Group started coverage on BioMarin Pharmaceutical in a report on Monday, May 11th. They set a “neutral” rating and a $69.00 price objective on the stock. Bank of America reduced their price objective on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Weiss Ratings upgraded BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, June 26th. Finally, Sanford C. Bernstein cut their price target on BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.26.

BioMarin Pharmaceutical Stock Up 1.6%

Shares of BMRN opened at $60.27 on Tuesday. The stock’s 50-day moving average price is $56.75 and its two-hundred day moving average price is $56.82. BioMarin Pharmaceutical Inc. has a 12 month low of $49.26 and a 12 month high of $66.28. The company has a market capitalization of $11.65 billion, a PE ratio of 43.99, a PEG ratio of 0.45 and a beta of 0.24. 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 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.