BioMarin Pharmaceutical Inc. $BMRN Holdings Boosted by Boone Capital Management LLC

Boone Capital Management LLC grew its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 25.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 411,880 shares of the biotechnology company’s stock after purchasing an additional 83,334 shares during the quarter. BioMarin Pharmaceutical makes up about 8.2% of Boone Capital Management LLC’s holdings, making the stock its 5th largest position. Boone Capital Management LLC owned 0.21% of BioMarin Pharmaceutical worth $24,478,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Viking Global Investors LP grew its holdings in shares of BioMarin Pharmaceutical by 13.8% during the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock worth $675,505,000 after purchasing an additional 1,488,552 shares during the last quarter. Norges Bank purchased a new position in shares of BioMarin Pharmaceutical during the fourth quarter worth about $447,572,000. AQR Capital Management LLC grew its holdings in shares of BioMarin Pharmaceutical by 12.7% during the fourth 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 last quarter. Geode Capital Management LLC grew its holdings in shares of BioMarin Pharmaceutical by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 3,674,089 shares of the biotechnology company’s stock worth $218,395,000 after buying an additional 131,969 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of BioMarin Pharmaceutical by 48.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,321,754 shares of the biotechnology company’s stock worth $197,405,000 after buying an additional 1,076,568 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $55.02 on Thursday. The company has a quick ratio of 4.20, a current ratio of 5.81 and a debt-to-equity ratio of 0.23. The company has a market cap of $10.63 billion, a P/E ratio of 40.16, a PEG ratio of 0.42 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a 52 week low of $49.26 and a 52 week high of $66.28. The company has a 50-day moving average price of $54.32 and a 200 day moving average price of $56.42.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Stifel Nicolaus set a $68.00 price target on BioMarin Pharmaceutical in a report on Tuesday, February 24th. Weiss Ratings lowered BioMarin Pharmaceutical from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 11th. Oppenheimer lowered their price target on BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Tuesday, February 24th. Morgan Stanley lowered their price target on BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. Finally, Loop Capital set a $105.00 price target on BioMarin Pharmaceutical in a report on Monday, March 2nd. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $88.67.

Insider Buying and Selling

In related news, EVP Gregory R. Friberg sold 3,281 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were 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 owned 51,818 shares in the company, 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 Securities & Exchange Commission, which is available at this link. 0.85% of the stock is currently owned by insiders.

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.