BioMarin Pharmaceutical Inc. $BMRN Position Boosted by Eagle Health Investments LP

Eagle Health Investments LP boosted its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 37.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 505,809 shares of the biotechnology company’s stock after purchasing an additional 138,997 shares during the period. BioMarin Pharmaceutical comprises approximately 5.0% of Eagle Health Investments LP’s portfolio, making the stock its 5th largest holding. Eagle Health Investments LP’s holdings in BioMarin Pharmaceutical were worth $28,573,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC grew its stake in shares of BioMarin Pharmaceutical by 12.8% during the first quarter. Empowered Funds LLC now owns 33,203 shares of the biotechnology company’s stock valued at $1,876,000 after buying an additional 3,776 shares during the last quarter. Eversept Partners LP lifted its stake in shares of BioMarin Pharmaceutical by 121.6% in the 1st quarter. Eversept Partners LP now owns 207,768 shares of the biotechnology company’s stock valued at $11,737,000 after acquiring an additional 114,020 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in BioMarin Pharmaceutical by 41.2% during the 1st quarter. Quantinno Capital Management LP now owns 52,147 shares of the biotechnology company’s stock valued at $2,946,000 after acquiring an additional 15,225 shares during the period. SummitTX Capital L.P. boosted its holdings in BioMarin Pharmaceutical by 129.7% during the 1st quarter. SummitTX Capital L.P. now owns 90,632 shares of the biotechnology company’s stock valued at $5,120,000 after acquiring an additional 51,180 shares during the period. Finally, Rice Hall James & Associates LLC grew its position in BioMarin Pharmaceutical by 4.5% during the 1st quarter. Rice Hall James & Associates LLC now owns 104,659 shares of the biotechnology company’s stock worth $5,912,000 after acquiring an additional 4,489 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $53.85, for a total value of $176,681.85. Following the completion of the transaction, the executive vice president directly owned 51,818 shares in the company, valued at approximately $2,790,399.30. This represents a 5.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.68% of the company’s stock.

Wall Street Analysts Forecast Growth

BMRN has been the subject of several recent research reports. Weiss Ratings upgraded BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, June 26th. Sanford C. Bernstein decreased their target price on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. The Goldman Sachs Group initiated coverage on shares of BioMarin Pharmaceutical in a report on Monday, May 11th. They set a “neutral” rating and a $69.00 price target for the company. Royal Bank Of Canada dropped their price target on shares of BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 7th. Finally, Wall Street Zen lowered shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.26.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock opened at $60.27 on Tuesday. The business has a 50 day moving average of $56.75 and a 200 day moving average of $56.82. BioMarin Pharmaceutical Inc. has a 52 week low of $49.26 and a 52 week high of $66.28. The company has a market cap of $11.65 billion, a PE ratio of 43.99, a P/E/G ratio of 0.45 and a beta of 0.24. The company has a quick ratio of 4.20, a current ratio of 5.81 and a debt-to-equity ratio of 0.23.

BioMarin Pharmaceutical Company 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.