OP Asset Management Ltd Takes Position in BioMarin Pharmaceutical Inc. $BMRN

OP Asset Management Ltd purchased a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 56,060 shares of the biotechnology company’s stock, valued at approximately $3,167,000.

Several other institutional investors have also made changes to their positions in BMRN. Activest Wealth Management purchased a new position in BioMarin Pharmaceutical during the fourth quarter valued at approximately $26,000. CIBC Private Wealth Group LLC lifted its position in 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 purchased a new stake in BioMarin Pharmaceutical in the 3rd quarter worth approximately $40,000. Parallel Advisors LLC boosted its stake in shares of BioMarin Pharmaceutical by 62.2% during the 3rd 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 acquired a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at $45,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of the stock in a transaction that occurred on 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 in the company, valued at $2,790,399.30. This trade represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.85% of the stock is owned by insiders.

BioMarin Pharmaceutical Stock Up 2.9%

Shares of BMRN stock opened at $59.00 on Friday. The stock’s 50 day simple moving average is $54.43 and its 200 day simple moving average is $56.51. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.20 and a current ratio of 5.81. BioMarin Pharmaceutical Inc. has a twelve month low of $49.26 and a twelve month high of $66.28. The company has a market capitalization of $11.40 billion, a price-to-earnings ratio of 43.06, a PEG ratio of 0.45 and a beta of 0.25.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BMRN shares. Morgan Stanley dropped their price target on shares of BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 5th. Canaccord Genuity Group lowered their target price on BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Bank of America dropped their target price 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. HC Wainwright reaffirmed a “neutral” rating on shares of BioMarin Pharmaceutical in a research note on Monday, June 22nd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $66.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $88.67.

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.