Graham Capital Management L.P. Buys 14,056 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Graham Capital Management L.P. raised its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRNGet Rating) by 410.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 17,477 shares of the biotechnology company’s stock after purchasing an additional 14,056 shares during the period. Graham Capital Management L.P.’s holdings in BioMarin Pharmaceutical were worth $1,347,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BMRN. Dimensional Fund Advisors LP boosted its stake in shares of BioMarin Pharmaceutical by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 552,022 shares of the biotechnology company’s stock worth $48,775,000 after acquiring an additional 26,813 shares during the period. Rafferty Asset Management LLC boosted its stake in shares of BioMarin Pharmaceutical by 55.5% in the fourth quarter. Rafferty Asset Management LLC now owns 62,117 shares of the biotechnology company’s stock worth $5,488,000 after acquiring an additional 22,161 shares during the period. Rhumbline Advisers boosted its stake in shares of BioMarin Pharmaceutical by 3.9% in the fourth quarter. Rhumbline Advisers now owns 156,013 shares of the biotechnology company’s stock worth $13,784,000 after acquiring an additional 5,813 shares during the period. Bailard Inc. bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth about $311,000. Finally, Private Advisor Group LLC boosted its stake in shares of BioMarin Pharmaceutical by 21.3% in the fourth quarter. Private Advisor Group LLC now owns 5,078 shares of the biotechnology company’s stock worth $449,000 after acquiring an additional 893 shares during the period. Institutional investors own 94.84% of the company’s stock.

BioMarin Pharmaceutical Trading Down 0.1 %

BMRN opened at $92.93 on Monday. The stock has a market cap of $17.24 billion, a price-to-earnings ratio of 357.44, a P/E/G ratio of 2.04 and a beta of 0.32. The stock’s 50 day moving average price is $89.95 and its 200-day moving average price is $83.11. BioMarin Pharmaceutical Inc. has a one year low of $70.73 and a one year high of $97.76. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.69 and a current ratio of 5.42.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) last released its earnings results on Wednesday, August 3rd. The biotechnology company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. BioMarin Pharmaceutical had a return on equity of 1.78% and a net margin of 2.83%. During the same quarter in the previous year, the business earned $0.23 EPS. On average, equities analysts forecast that BioMarin Pharmaceutical Inc. will post 0.91 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. StockNews.com raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. Piper Sandler boosted their target price on BioMarin Pharmaceutical from $125.00 to $128.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 9th. Wedbush reiterated a “hold” rating and issued a $70.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, June 24th. Barclays boosted their target price on BioMarin Pharmaceutical from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, August 4th. Finally, Cantor Fitzgerald initiated coverage on BioMarin Pharmaceutical in a research report on Tuesday, July 12th. They issued an “overweight” rating and a $110.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $112.57.

Insider Buying and Selling

In related news, CEO Jean Jacques Bienaime sold 4,000 shares of the stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $94.75, for a total value of $379,000.00. Following the transaction, the chief executive officer now owns 331,324 shares of the company’s stock, valued at $31,392,949. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Jean Jacques Bienaime sold 4,000 shares of the stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $94.75, for a total value of $379,000.00. Following the transaction, the chief executive officer now owns 331,324 shares of the company’s stock, valued at $31,392,949. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian Mueller sold 7,337 shares of the stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $89.50, for a total value of $656,661.50. Following the completion of the transaction, the chief financial officer now directly owns 30,726 shares in the company, valued at approximately $2,749,977. The disclosure for this sale can be found here. Insiders have sold a total of 30,940 shares of company stock valued at $2,873,126 over the last quarter. 1.75% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical Profile

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BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.

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Institutional Ownership by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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