BioMarin Pharmaceutical Inc. $BMRN Stake Raised by Engineers Gate Manager LP

Engineers Gate Manager LP boosted its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 205.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 374,814 shares of the biotechnology company’s stock after acquiring an additional 251,905 shares during the quarter. Engineers Gate Manager LP’s holdings in BioMarin Pharmaceutical were worth $22,275,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Activest Wealth Management bought a new stake in BioMarin Pharmaceutical in the fourth quarter worth about $26,000. CIBC Private Wealth Group LLC raised its position in BioMarin Pharmaceutical by 38.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 179 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in BioMarin Pharmaceutical in the third quarter worth about $40,000. Smartleaf Asset Management LLC raised its holdings in BioMarin Pharmaceutical by 92.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock worth $40,000 after buying an additional 360 shares during the period. Finally, V Square Quantitative Management LLC acquired a new stake in BioMarin Pharmaceutical during the 4th quarter worth about $45,000. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Trading Down 0.2%

NASDAQ: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. BioMarin Pharmaceutical Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $66.28. The stock’s 50-day moving average is $54.32 and its two-hundred day moving average is $56.42. The stock has a market cap of $10.63 billion, a PE ratio of 40.16, a price-to-earnings-growth ratio of 0.42 and a beta of 0.25.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $53.85, for a total transaction of $176,681.85. Following the transaction, the executive vice president owned 51,818 shares of the company’s stock, valued at $2,790,399.30. The trade was a 5.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.85% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BMRN has been the topic of several recent analyst reports. Weiss Ratings downgraded BioMarin Pharmaceutical from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 11th. Citigroup initiated coverage on BioMarin Pharmaceutical in a report on Tuesday, May 19th. They set a “buy” rating and a $75.00 price objective on the stock. Morgan Stanley cut their price objective on BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. Bank of America cut their price objective on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $66.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average price target 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.