Bessemer Group Inc. Raises Position in BioMarin Pharmaceutical Inc. $BMRN

Bessemer Group Inc. increased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 41.9% during the first quarter, HoldingsChannel reports. The firm owned 89,439 shares of the biotechnology company’s stock after acquiring an additional 26,403 shares during the period. Bessemer Group Inc.’s holdings in BioMarin Pharmaceutical were worth $5,053,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in BioMarin Pharmaceutical during the fourth quarter valued at $447,572,000. Vestal Point Capital LP raised its stake in shares of BioMarin Pharmaceutical by 261.4% in the fourth quarter. Vestal Point Capital LP now owns 3,000,000 shares of the biotechnology company’s stock valued at $178,290,000 after buying an additional 2,170,000 shares during the period. Viking Global Investors LP raised its stake in shares of BioMarin Pharmaceutical by 13.8% in the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock valued at $675,505,000 after buying an additional 1,488,552 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of BioMarin Pharmaceutical by 48.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,321,754 shares of the biotechnology company’s stock valued at $197,405,000 after buying an additional 1,076,568 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of BioMarin Pharmaceutical by 312.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,419,067 shares of the biotechnology company’s stock valued at $84,335,000 after buying an additional 1,074,929 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 $59.11 on Tuesday. 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 fifty-two week low of $49.26 and a fifty-two week high of $66.28. The stock has a market cap of $11.42 billion, a PE ratio of 43.15, a price-to-earnings-growth ratio of 0.45 and a beta of 0.24. The stock has a fifty day moving average of $56.05 and a 200-day moving average of $56.83.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $53.85, for a total transaction of $176,681.85. Following the completion of the transaction, the executive vice president owned 51,818 shares of the company’s stock, valued at $2,790,399.30. The trade was a 5.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BMRN shares. The Goldman Sachs Group began coverage on BioMarin Pharmaceutical in a report on Monday, May 11th. They issued a “neutral” rating and a $69.00 price objective for the company. Weiss Ratings raised shares of BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, June 26th. HC Wainwright reiterated a “neutral” rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, July 14th. Sanford C. Bernstein reduced their target price on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. Finally, Royal Bank Of Canada lowered their price target on shares of BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average target price 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.