Eurizon Capital SGR S.p.A. Invests $730,000 in BioMarin Pharmaceutical Inc. $BMRN

Eurizon Capital SGR S.p.A. bought a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 4th quarter, HoldingsChannel reports. The fund bought 12,304 shares of the biotechnology company’s stock, valued at approximately $730,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Northwestern Mutual Investment Management Company LLC boosted its position in shares of BioMarin Pharmaceutical by 0.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 42,982 shares of the biotechnology company’s stock worth $2,554,000 after buying an additional 183 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of BioMarin Pharmaceutical by 7.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,741 shares of the biotechnology company’s stock worth $163,000 after buying an additional 195 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of BioMarin Pharmaceutical by 3.4% in the third quarter. EverSource Wealth Advisors LLC now owns 7,151 shares of the biotechnology company’s stock worth $387,000 after buying an additional 235 shares during the period. Davis Investment Partners LLC boosted its position in shares of BioMarin Pharmaceutical by 3.1% in the fourth quarter. Davis Investment Partners LLC now owns 8,031 shares of the biotechnology company’s stock worth $477,000 after buying an additional 243 shares during the period. Finally, Parallel Advisors LLC boosted its position in 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 purchasing an additional 295 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BMRN. The Goldman Sachs Group began coverage on BioMarin Pharmaceutical in a research report on Monday, May 11th. They set a “neutral” rating and a $69.00 price objective for the company. Oppenheimer reduced their price objective on BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating for the company in a research report on Tuesday, February 24th. Citigroup began coverage on BioMarin Pharmaceutical in a research report on Tuesday, May 19th. They set a “buy” rating and a $75.00 price objective for the company. Canaccord Genuity Group reduced their price objective on BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. Finally, Bank of America reduced their price objective on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $88.67.

BioMarin Pharmaceutical Trading Up 2.5%

NASDAQ:BMRN opened at $54.66 on Thursday. The company’s 50 day moving average is $54.20 and its 200-day moving average is $56.31. The company has a quick ratio of 4.20, a current ratio of 5.81 and a debt-to-equity ratio of 0.23. BioMarin Pharmaceutical Inc. has a 12 month low of $49.26 and a 12 month high of $66.28. The firm has a market cap of $10.56 billion, a price-to-earnings ratio of 39.90, a P/E/G ratio of 0.40 and a beta of 0.25.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Gregory R. Friberg sold 3,281 shares of the firm’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 sale, the executive vice president directly owned 51,818 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, EVP Charles Greg Guyer sold 16,486 shares of BioMarin Pharmaceutical stock in a transaction dated 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 owned 79,953 shares in the company, valued at $4,833,958.38. The trade was a 17.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.85% of the company’s stock.

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.