Elmind Capital LP Has $2.65 Million Position in BioMarin Pharmaceutical Inc. $BMRN

Elmind Capital LP reduced its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 42.7% in the 1st quarter, HoldingsChannel reports. The firm owned 47,000 shares of the biotechnology company’s stock after selling 35,000 shares during the quarter. BioMarin Pharmaceutical makes up 0.8% of Elmind Capital LP’s portfolio, making the stock its 25th biggest position. Elmind Capital LP’s holdings in BioMarin Pharmaceutical were worth $2,655,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BMRN. Activest Wealth Management acquired a new position in BioMarin Pharmaceutical during the 4th quarter worth approximately $26,000. CIBC Private Wealth Group LLC grew its stake in BioMarin Pharmaceutical by 38.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock valued at $39,000 after acquiring an additional 179 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in BioMarin Pharmaceutical in the third quarter valued at approximately $40,000. Parallel Advisors LLC increased its holdings in shares of BioMarin Pharmaceutical by 62.2% during the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 295 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, EVP Gregory R. Friberg sold 3,281 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $53.85, for a total transaction of $176,681.85. Following the transaction, the executive vice president directly owned 51,818 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 0.68% of the stock is owned by insiders.

BioMarin Pharmaceutical Trading Up 1.6%

NASDAQ BMRN opened at $60.27 on Tuesday. The firm has a market capitalization of $11.65 billion, a P/E ratio of 43.99, a PEG ratio of 0.45 and a beta of 0.24. The business has a fifty day simple moving average of $56.75 and a 200 day simple moving average of $56.82. BioMarin Pharmaceutical Inc. has a 12 month low of $49.26 and a 12 month high of $66.28. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23.

Wall Street Analyst Weigh In

BMRN has been the subject of a number of recent research reports. 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 target for the company. Morgan Stanley reduced their price objective on shares of BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating for the company in a report on Tuesday, May 5th. Wall Street Zen downgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. UBS Group restated a “neutral” rating on shares of BioMarin Pharmaceutical in a report on Tuesday, July 14th. Finally, Sanford C. Bernstein dropped their price target on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.26.

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.