Qsemble Capital Management LP Invests $3.39 Million in BioMarin Pharmaceutical Inc. $BMRN

Qsemble Capital Management LP acquired a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 4th quarter, Holdings Channel.com reports. The fund acquired 57,088 shares of the biotechnology company’s stock, valued at approximately $3,393,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. DNB Asset Management AS boosted its stake in BioMarin Pharmaceutical by 6.7% during the 4th quarter. DNB Asset Management AS now owns 1,359,549 shares of the biotechnology company’s stock valued at $80,798,000 after purchasing an additional 85,265 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings 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 valued at $2,554,000 after acquiring an additional 183 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of BioMarin Pharmaceutical by 3,494.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 957,011 shares of the biotechnology company’s stock valued at $56,875,000 after acquiring an additional 930,390 shares during the last quarter. Pinnacle Associates Ltd. bought a new stake in BioMarin Pharmaceutical during the fourth quarter worth $364,000. Finally, Baader Bank Aktiengesellschaft purchased a new position in BioMarin Pharmaceutical in the fourth quarter worth $577,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

Insider Transactions at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 16,486 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $60.46, for a total transaction of $996,743.56. Following the completion of the transaction, the executive vice president owned 79,953 shares of the company’s stock, valued at approximately $4,833,958.38. The trade was a 17.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory R. Friberg sold 6,326 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $60.38, for a total transaction of $381,963.88. Following the sale, the executive vice president directly owned 37,578 shares in the company, valued at $2,268,959.64. This trade represents a 14.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 26,093 shares of company stock valued at $1,555,389 in the last ninety days. Insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $51.81 on Friday. The firm has a market capitalization of $10.01 billion, a P/E ratio of 37.82, a PEG ratio of 0.39 and a beta of 0.23. BioMarin Pharmaceutical Inc. has a one year low of $50.76 and a one year high of $66.28. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.81 and a quick ratio of 4.20. The business has a fifty day moving average price of $55.48 and a 200-day moving average price of $56.28.

Analyst Ratings Changes

A number of research firms have recently commented on BMRN. Sanford C. Bernstein lowered their target price on BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Wells Fargo & Company boosted their target price on shares of BioMarin Pharmaceutical from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Morgan Stanley lowered their price target on shares of BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. Barclays increased their price objective on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. Finally, Canaccord Genuity Group boosted their target price on BioMarin Pharmaceutical from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.91.

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.