Lighthouse Investment Partners LLC Buys New Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Lighthouse Investment Partners LLC bought a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRNFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 40,613 shares of the biotechnology company’s stock, valued at approximately $3,916,000.

Other large investors have also recently bought and sold shares of the company. KB Financial Partners LLC boosted its position in BioMarin Pharmaceutical by 51.3% in the third quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 118 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in BioMarin Pharmaceutical by 259.8% in the fourth quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 278 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in BioMarin Pharmaceutical by 135.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 249 shares during the period. Jones Financial Companies Lllp acquired a new position in BioMarin Pharmaceutical in the fourth quarter valued at approximately $43,000. Finally, First Horizon Advisors Inc. lifted its holdings in BioMarin Pharmaceutical by 33.3% in the fourth quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock valued at $56,000 after acquiring an additional 144 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Insider Buying and Selling

In related news, Director Jean Jacques Bienaime sold 20,000 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the transaction, the director now owns 474,994 shares of the company’s stock, valued at approximately $43,347,952.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 24,602 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $88.34, for a total value of $2,173,340.68. Following the sale, the executive vice president now owns 55,856 shares of the company’s stock, valued at approximately $4,934,319.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jean Jacques Bienaime sold 20,000 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $91.26, for a total value of $1,825,200.00. Following the completion of the sale, the director now directly owns 474,994 shares in the company, valued at approximately $43,347,952.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,588 shares of company stock valued at $9,413,633. Corporate insiders own 1.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Citigroup decreased their price target on BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Wells Fargo & Company boosted their price target on BioMarin Pharmaceutical from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Baird R W downgraded BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Piper Sandler reduced their target price on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $110.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, April 25th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.11.

Check Out Our Latest Stock Analysis on BioMarin Pharmaceutical

BioMarin Pharmaceutical Trading Up 4.2 %

BMRN traded up $3.40 during mid-day trading on Monday, hitting $84.09. 2,248,120 shares of the stock were exchanged, compared to its average volume of 1,615,614. The firm’s fifty day moving average is $82.85 and its two-hundred day moving average is $88.09. BioMarin Pharmaceutical Inc. has a 1-year low of $73.68 and a 1-year high of $99.56. The company has a current ratio of 2.74, a quick ratio of 1.70 and a debt-to-equity ratio of 0.12. The company has a market cap of $15.97 billion, a PE ratio of 79.81, a PEG ratio of 1.15 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Free Report) last posted its earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.12. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. The firm had revenue of $648.83 million for the quarter, compared to analyst estimates of $649.75 million. Equities analysts forecast that BioMarin Pharmaceutical Inc. will post 1.99 earnings per share for the current fiscal year.

About BioMarin Pharmaceutical

(Free Report)

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.

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Institutional Ownership by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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