Eversept Partners LP Has $11.74 Million Stake in BioMarin Pharmaceutical Inc. $BMRN

Eversept Partners LP grew its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 121.6% during the first quarter, Holdings Channel.com reports. The firm owned 207,768 shares of the biotechnology company’s stock after buying an additional 114,020 shares during the period. Eversept Partners LP’s holdings in BioMarin Pharmaceutical were worth $11,737,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Perpetual Ltd raised its holdings in shares of BioMarin Pharmaceutical by 425.7% during the fourth quarter. Perpetual Ltd now owns 25,621 shares of the biotechnology company’s stock worth $1,523,000 after acquiring an additional 20,747 shares in the last quarter. Paragon Capital Management Inc. acquired a new stake in BioMarin Pharmaceutical in the fourth quarter valued at approximately $1,191,000. Swedbank AB grew its position in BioMarin Pharmaceutical by 70.6% in the fourth quarter. Swedbank AB now owns 796,737 shares of the biotechnology company’s stock worth $47,350,000 after acquiring an additional 329,794 shares in the last quarter. LSV Asset Management increased its stake in shares of BioMarin Pharmaceutical by 4.3% during the 4th quarter. LSV Asset Management now owns 882,200 shares of the biotechnology company’s stock worth $52,429,000 after purchasing an additional 36,700 shares during the last quarter. Finally, C WorldWide Group Holding A S increased its stake in shares of BioMarin Pharmaceutical by 12.6% during the 4th quarter. C WorldWide Group Holding A S now owns 267,851 shares of the biotechnology company’s stock worth $15,918,000 after purchasing an additional 30,000 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BioMarin Pharmaceutical

In other news, EVP Gregory R. Friberg sold 3,281 shares of BioMarin Pharmaceutical 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 sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.68% of the company’s stock.

BioMarin Pharmaceutical Stock Up 1.6%

BMRN opened at $60.27 on Tuesday. The company has a market capitalization of $11.65 billion, a P/E ratio of 43.99, a P/E/G ratio of 0.45 and a beta of 0.24. 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’s fifty day moving average price is $56.75 and its two-hundred day moving average price is $56.82. BioMarin Pharmaceutical Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $66.28.

Wall Street Analysts Forecast Growth

BMRN has been the subject of a number of analyst reports. Bank of America reduced their price target on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. HC Wainwright reissued a “neutral” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 14th. Royal Bank Of Canada reduced their target price on BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating for the company in a report on Tuesday, July 7th. Citigroup upped their target price on BioMarin Pharmaceutical from $75.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Finally, Canaccord Genuity Group lowered their price target on BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.26.

About BioMarin Pharmaceutical

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.