Qsemble Capital Management LP Acquires Shares of 57,088 BioMarin Pharmaceutical Inc. $BMRN

Qsemble Capital Management LP bought a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 57,088 shares of the biotechnology company’s stock, valued at approximately $3,393,000.

Other hedge funds also recently made changes to their positions in the company. Activest Wealth Management acquired a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at approximately $26,000. Quent Capital LLC bought a new position in BioMarin Pharmaceutical during the 3rd quarter worth $28,000. Smartleaf Asset Management LLC increased its stake in BioMarin Pharmaceutical by 92.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 360 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in BioMarin Pharmaceutical in the 3rd quarter valued at $40,000. Finally, Parallel Advisors LLC lifted its position in shares of BioMarin Pharmaceutical by 62.2% during the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 295 shares during the period. 98.71% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Charles Greg Guyer sold 16,486 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $60.46, for a total transaction of $996,743.56. Following the completion of the transaction, the executive vice president directly owned 79,953 shares in the company, valued at $4,833,958.38. This represents a 17.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregory R. Friberg sold 6,326 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $60.38, for a total transaction of $381,963.88. Following the completion of the sale, the executive vice president owned 37,578 shares in the company, valued at $2,268,959.64. This represents a 14.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 26,093 shares of company stock valued at $1,555,389. Insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $51.81 on Friday. The stock has a fifty day moving average of $55.48 and a 200-day moving average of $56.28. The stock has a market capitalization of $10.01 billion, a P/E ratio of 37.82, a price-to-earnings-growth ratio of 0.39 and a beta of 0.23. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.20 and a current ratio of 5.81. BioMarin Pharmaceutical Inc. has a 52 week low of $50.76 and a 52 week high of $66.28.

Analyst Upgrades and Downgrades

BMRN has been the topic of several analyst reports. Canaccord Genuity Group increased their target price on BioMarin Pharmaceutical from $104.00 to $116.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Stifel Nicolaus set a $68.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, February 24th. Bank of America reduced their price objective on shares of BioMarin Pharmaceutical from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Piper Sandler decreased their target price on shares of BioMarin Pharmaceutical from $122.00 to $84.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Finally, Truist Financial upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and an average price target of $89.91.

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.