Elmind Capital LP Invests $4.87 Million in BioMarin Pharmaceutical Inc. $BMRN

Elmind Capital LP purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 82,000 shares of the biotechnology company’s stock, valued at approximately $4,873,000. BioMarin Pharmaceutical accounts for about 1.4% of Elmind Capital LP’s investment portfolio, making the stock its 19th biggest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. DNB Asset Management AS raised its position in shares of BioMarin Pharmaceutical by 13.8% during the 3rd quarter. DNB Asset Management AS now owns 1,274,284 shares of the biotechnology company’s stock worth $69,015,000 after purchasing an additional 154,954 shares during the period. Assenagon Asset Management S.A. raised its position in shares of BioMarin Pharmaceutical by 312.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,419,067 shares of the biotechnology company’s stock worth $84,335,000 after purchasing an additional 1,074,929 shares during the period. Braidwell LP acquired a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter worth approximately $28,596,000. Perpetual Ltd raised its position in shares of BioMarin Pharmaceutical by 425.7% during the 4th quarter. Perpetual Ltd now owns 25,621 shares of the biotechnology company’s stock worth $1,523,000 after purchasing an additional 20,747 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of BioMarin Pharmaceutical by 134.2% during the 3rd quarter. Fisher Asset Management LLC now owns 31,726 shares of the biotechnology company’s stock worth $1,718,000 after purchasing an additional 18,181 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Stifel Nicolaus set a $68.00 price target on BioMarin Pharmaceutical in a research report on Tuesday, February 24th. Loop Capital set a $105.00 target price on BioMarin Pharmaceutical in a research report on Monday, March 2nd. Oppenheimer lowered their target price on BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Royal Bank Of Canada restated a “sector perform” rating and issued a $66.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday, May 5th. Finally, Morgan Stanley lowered their target price on BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. Two 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $88.67.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ BMRN opened at $55.02 on Thursday. The stock has a fifty day moving average price of $54.32 and a two-hundred day moving average price of $56.42. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.20 and a current ratio of 5.81. The firm has a market cap of $10.63 billion, a P/E ratio of 40.16, a PEG ratio of 0.42 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a 1 year low of $49.26 and a 1 year high of $66.28.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Gregory R. Friberg sold 3,281 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president directly owned 51,818 shares of the company’s stock, valued at $2,790,399.30. This trade represents a 5.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.85% of the stock is currently owned by corporate insiders.

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.