CenterBook Partners LP Buys Shares of 35,718 BioMarin Pharmaceutical Inc. $BMRN

CenterBook Partners LP purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 35,718 shares of the biotechnology company’s stock, valued at approximately $2,123,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwestern Mutual Investment Management Company LLC grew its holdings in shares of BioMarin Pharmaceutical by 0.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 42,982 shares of the biotechnology company’s stock valued at $2,554,000 after purchasing an additional 183 shares during the period. Nisa Investment Advisors LLC raised its stake in BioMarin Pharmaceutical by 7.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,741 shares of the biotechnology company’s stock worth $163,000 after purchasing an additional 195 shares during the period. EverSource Wealth Advisors LLC raised its stake in BioMarin Pharmaceutical by 3.4% during the third quarter. EverSource Wealth Advisors LLC now owns 7,151 shares of the biotechnology company’s stock worth $387,000 after purchasing an additional 235 shares during the period. Davis Investment Partners LLC boosted its holdings in BioMarin Pharmaceutical by 3.1% in the 4th quarter. Davis Investment Partners LLC now owns 8,031 shares of the biotechnology company’s stock valued at $477,000 after purchasing an additional 243 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of BioMarin Pharmaceutical by 62.2% in 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. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Up 2.4%

Shares of NASDAQ BMRN opened at $57.91 on Wednesday. The company has a quick ratio of 4.20, a current ratio of 5.81 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $54.37 and its two-hundred day moving average is $56.40. BioMarin Pharmaceutical Inc. has a 52-week low of $49.26 and a 52-week high of $66.28. The firm has a market cap of $11.19 billion, a price-to-earnings ratio of 42.27, a PEG ratio of 0.43 and a beta of 0.25.

Insider Activity

In related news, EVP Gregory R. Friberg sold 3,281 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $2,790,399.30. This represents a 5.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BMRN shares. Stifel Nicolaus set a $68.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, February 24th. Wall Street Zen cut BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Saturday. Morgan Stanley reduced 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. Sanford C. Bernstein decreased their price target on BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Finally, Weiss Ratings upgraded BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus target price 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.