Braidwell LP Acquires Shares of 528,000 BioMarin Pharmaceutical Inc. $BMRN

Braidwell LP acquired a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 528,000 shares of the biotechnology company’s stock, valued at approximately $28,596,000. Braidwell LP owned 0.27% of BioMarin Pharmaceutical at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BMRN. AQR Capital Management LLC boosted its stake in BioMarin Pharmaceutical by 90.7% during the 2nd quarter. AQR Capital Management LLC now owns 5,580,573 shares of the biotechnology company’s stock worth $306,429,000 after purchasing an additional 2,654,768 shares during the period. Capital Research Global Investors grew its position in BioMarin Pharmaceutical by 547.5% during the 3rd quarter. Capital Research Global Investors now owns 2,537,596 shares of the biotechnology company’s stock worth $137,436,000 after purchasing an additional 2,145,717 shares during the last quarter. Norges Bank acquired a new position in BioMarin Pharmaceutical in the second quarter valued at $112,352,000. Viking Global Investors LP raised its holdings in shares of BioMarin Pharmaceutical by 13.8% in the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock valued at $675,505,000 after buying an additional 1,488,552 shares during the last quarter. Finally, LSV Asset Management raised its holdings in shares of BioMarin Pharmaceutical by 2,445.5% in the third quarter. LSV Asset Management now owns 845,500 shares of the biotechnology company’s stock valued at $45,792,000 after buying an additional 812,284 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on BMRN. Wells Fargo & Company raised their price target on BioMarin Pharmaceutical from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Loop Capital set a $105.00 price objective on BioMarin Pharmaceutical in a research note on Monday, March 2nd. Guggenheim decreased their price objective on BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Leerink Partners downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $82.00 to $60.00 in a research note on Wednesday, December 3rd. Finally, Canaccord Genuity Group boosted their target price on BioMarin Pharmaceutical from $98.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Seventeen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and an average target price of $90.00.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 16,486 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were 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 in the company, valued at approximately $4,833,958.38. The trade was a 17.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory R. Friberg sold 6,326 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $60.38, for a total transaction of $381,963.88. Following the transaction, the executive vice president directly owned 37,578 shares in the company, valued at approximately $2,268,959.64. This trade represents a 14.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.85% of the stock is owned by company insiders.

BioMarin Pharmaceutical Trading Down 0.9%

Shares of BioMarin Pharmaceutical stock opened at $58.51 on Friday. The firm has a market cap of $11.25 billion, a price-to-earnings ratio of 32.87, a price-to-earnings-growth ratio of 0.57 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a 52-week low of $50.76 and a 52-week high of $73.18. The company’s 50-day simple moving average is $58.96 and its 200-day simple moving average is $56.33. The company has a quick ratio of 3.50, a current ratio of 5.21 and a debt-to-equity ratio of 0.10.

BioMarin Pharmaceutical 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.