Ishara Investments LP Takes $5.94 Million Position in BioMarin Pharmaceutical Inc. $BMRN

Ishara Investments LP bought a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 100,000 shares of the biotechnology company’s stock, valued at approximately $5,943,000. BioMarin Pharmaceutical makes up approximately 6.9% of Ishara Investments LP’s holdings, making the stock its 3rd biggest holding. Ishara Investments LP owned 0.05% of BioMarin Pharmaceutical at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Viking Global Investors LP raised its position in shares of BioMarin Pharmaceutical by 13.8% during the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock valued at $675,505,000 after buying an additional 1,488,552 shares in the last quarter. Norges Bank purchased a new stake in BioMarin Pharmaceutical in the 4th quarter worth about $447,572,000. AQR Capital Management LLC raised its position in BioMarin Pharmaceutical by 12.7% in the 4th quarter. AQR Capital Management LLC now owns 6,686,916 shares of the biotechnology company’s stock worth $395,197,000 after purchasing an additional 754,807 shares during the period. Geode Capital Management LLC raised its position in BioMarin Pharmaceutical by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 3,674,089 shares of the biotechnology company’s stock worth $218,395,000 after purchasing an additional 131,969 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in BioMarin Pharmaceutical by 48.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,321,754 shares of the biotechnology company’s stock worth $197,405,000 after purchasing an additional 1,076,568 shares during the period. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Trading Down 0.2%

Shares of BioMarin Pharmaceutical 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 firm has a fifty day moving average price of $54.32 and a 200 day moving average price of $56.42. BioMarin Pharmaceutical Inc. has a 1 year low of $49.26 and a 1 year high of $66.28. The stock has a market cap of $10.63 billion, a PE ratio of 40.16, a price-to-earnings-growth ratio of 0.42 and a beta of 0.25.

Insider Activity

In related news, EVP Gregory R. Friberg sold 3,281 shares of the firm’s 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 owned 51,818 shares of the company’s stock, valued at $2,790,399.30. This trade represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.85% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BMRN has been the topic of a number of recent research reports. Canaccord Genuity Group dropped their price objective on shares of BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. The Goldman Sachs Group initiated coverage on shares of BioMarin Pharmaceutical in a research note on Monday, May 11th. They set a “neutral” rating and a $69.00 price objective on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and set a $66.00 price objective on shares of BioMarin Pharmaceutical in a research note on Tuesday, May 5th. Loop Capital set a $105.00 price objective on shares of BioMarin Pharmaceutical in a research note on Monday, March 2nd. Finally, Wells Fargo & Company increased their price objective on shares of BioMarin Pharmaceutical from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.67.

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.