Bull Harbor Capital LLC Purchases New Holdings in BioMarin Pharmaceutical Inc. $BMRN

Bull Harbor Capital LLC acquired a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 19,207 shares of the biotechnology company’s stock, valued at approximately $1,085,000.

Other large investors have also recently bought and sold shares of the company. Activest Wealth Management acquired a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at $26,000. CIBC Private Wealth Group LLC raised its position in shares of BioMarin Pharmaceutical by 38.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 179 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of BioMarin Pharmaceutical during the third quarter valued at $40,000. Parallel Advisors LLC lifted its stake in shares of BioMarin Pharmaceutical by 62.2% during the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 295 shares during the period. Finally, V Square Quantitative Management LLC bought a new position in BioMarin Pharmaceutical in the fourth quarter valued at about $45,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

Insider Activity

In other news, EVP Gregory R. Friberg sold 3,281 shares of the company’s stock in a transaction dated 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.68% of the company’s stock.

BioMarin Pharmaceutical Trading Down 1.1%

NASDAQ BMRN opened at $61.37 on Thursday. BioMarin Pharmaceutical Inc. has a 12 month low of $49.26 and a 12 month high of $66.28. The stock has a 50-day simple moving average of $57.22 and a 200 day simple moving average of $56.84. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $11.86 billion, a PE ratio of 44.80, a P/E/G ratio of 0.47 and a beta of 0.24.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BMRN. Weiss Ratings upgraded BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, June 26th. Citigroup upped their target price on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Wall Street Zen cut shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Bank of America dropped their price target on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Finally, The Goldman Sachs Group began coverage on shares of BioMarin Pharmaceutical in a report on Monday, May 11th. They issued a “neutral” rating and a $69.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.26.

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.