AXQ Capital LP Invests $1.55 Million in BioMarin Pharmaceutical Inc. $BMRN

AXQ Capital LP purchased a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 26,036 shares of the biotechnology company’s stock, valued at approximately $1,547,000.

Several other institutional investors have also recently added to or reduced their stakes in BMRN. NewEdge Advisors LLC grew its position in BioMarin Pharmaceutical by 11.5% in the 1st quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company’s stock valued at $266,000 after buying an additional 388 shares in the last quarter. Empowered Funds LLC lifted its position in shares of BioMarin Pharmaceutical by 207.4% in the first quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock worth $850,000 after purchasing an additional 8,112 shares in the last quarter. Focus Partners Wealth lifted its position in shares of BioMarin Pharmaceutical by 70.2% in the first quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock worth $835,000 after purchasing an additional 4,876 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in BioMarin Pharmaceutical by 33.0% in the second quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company’s stock worth $244,000 after buying an additional 1,102 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in BioMarin Pharmaceutical by 23.5% in the second quarter. Invesco Ltd. now owns 618,835 shares of the biotechnology company’s stock worth $34,017,000 after buying an additional 117,617 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 16,486 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total value of $996,743.56. Following the completion of the sale, the executive vice president directly owned 79,953 shares of the company’s stock, valued at $4,833,958.38. This trade represents a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gregory R. Friberg sold 3,281 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $53.85, for a total value of $176,681.85. Following the completion of the sale, the executive vice president directly owned 51,818 shares of the company’s stock, valued at $2,790,399.30. This represents a 5.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock opened at $55.03 on Tuesday. The business’s fifty day simple moving average is $54.22 and its 200 day simple moving average is $56.33. The firm has a market capitalization of $10.64 billion, a P/E ratio of 40.17, a price-to-earnings-growth ratio of 0.43 and a beta of 0.25. 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.

Analysts Set New Price Targets

Several research firms have recently weighed in on BMRN. Loop Capital set a $105.00 price objective on BioMarin Pharmaceutical in a research report on Monday, March 2nd. Stifel Nicolaus set a $68.00 target price on BioMarin Pharmaceutical in a research report on Tuesday, February 24th. Oppenheimer cut their target price on BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 24th. Weiss Ratings raised BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. Finally, Bank of America decreased their target price on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average 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.