Eversept Partners LP Sells 52,894 Shares of BioMarin Pharmaceutical Inc. $BMRN

Eversept Partners LP reduced its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 36.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 93,748 shares of the biotechnology company’s stock after selling 52,894 shares during the quarter. Eversept Partners LP’s holdings in BioMarin Pharmaceutical were worth $5,571,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BMRN. NewEdge Advisors LLC grew its stake in shares of BioMarin Pharmaceutical by 11.5% in the first quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company’s stock valued at $266,000 after buying an additional 388 shares in the last quarter. Empowered Funds LLC grew its stake in shares of BioMarin Pharmaceutical by 207.4% in the first quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock valued at $850,000 after buying an additional 8,112 shares in the last quarter. Focus Partners Wealth grew its stake in shares of BioMarin Pharmaceutical by 70.2% in the first quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock valued at $835,000 after buying an additional 4,876 shares in the last quarter. Sivia Capital Partners LLC grew its stake in shares of BioMarin Pharmaceutical by 33.0% in the second quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company’s stock valued at $244,000 after buying an additional 1,102 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of BioMarin Pharmaceutical by 23.5% in the second quarter. Invesco Ltd. now owns 618,835 shares of the biotechnology company’s stock valued at $34,017,000 after buying an additional 117,617 shares in the last quarter. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Trading Down 0.2%

BMRN stock 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. The company has a fifty day moving average price of $54.32 and a two-hundred day moving average price of $56.42. BioMarin Pharmaceutical Inc. has a one year low of $49.26 and a one year high of $66.28. The stock has a market cap of $10.63 billion, a price-to-earnings ratio of 40.16, a price-to-earnings-growth ratio of 0.42 and a beta of 0.25.

Insider Buying and Selling

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

Analyst Ratings Changes

Several equities analysts recently weighed in on BMRN shares. Oppenheimer decreased their target price on shares of BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. Weiss Ratings cut shares of BioMarin Pharmaceutical from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 11th. Canaccord Genuity Group decreased their target price on shares of BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Bank of America decreased their target price on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Finally, Stifel Nicolaus set a $68.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, February 24th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.