Easterly Investment Partners LLC Buys Shares of 123,044 BioMarin Pharmaceutical Inc. $BMRN

Easterly Investment Partners LLC bought a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 123,044 shares of the biotechnology company’s stock, valued at approximately $7,313,000. Easterly Investment Partners LLC owned 0.06% of BioMarin Pharmaceutical at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BMRN. NewEdge Advisors LLC lifted its stake in BioMarin Pharmaceutical by 11.5% in the first 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 during the period. Empowered Funds LLC increased its holdings 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 acquiring an additional 8,112 shares in the last quarter. Focus Partners Wealth increased its holdings 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 acquiring an additional 4,876 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of 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 acquiring an additional 1,102 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of 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 acquiring an additional 117,617 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $57.29 on Monday. 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 business has a 50 day moving average price of $54.22 and a two-hundred day moving average price of $56.33. The company has a market cap of $11.07 billion, a price-to-earnings ratio of 41.82, a P/E/G ratio of 0.43 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a twelve month low of $49.26 and a twelve month high of $66.28.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Guggenheim lowered their price target on BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Citigroup assumed coverage on BioMarin Pharmaceutical in a report on Tuesday, May 19th. They issued a “buy” rating and a $75.00 price target for the company. Loop Capital set a $105.00 price target on BioMarin Pharmaceutical in a report on Monday, March 2nd. Royal Bank Of Canada restated a “sector perform” rating and issued a $66.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, May 5th. Finally, Wells Fargo & Company increased their price target on BioMarin Pharmaceutical from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.67.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 16,486 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 79,953 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory R. Friberg sold 3,281 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president owned 51,818 shares of the company’s stock, valued at approximately $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. 0.85% of the stock is owned by company insiders.

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.