Persistent Asset Partners Ltd Has $2.33 Million Holdings in BioMarin Pharmaceutical Inc. $BMRN

Persistent Asset Partners Ltd lessened its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 19.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 39,135 shares of the biotechnology company’s stock after selling 9,731 shares during the quarter. BioMarin Pharmaceutical makes up approximately 1.1% of Persistent Asset Partners Ltd’s investment portfolio, making the stock its 15th largest holding. Persistent Asset Partners Ltd’s holdings in BioMarin Pharmaceutical were worth $2,326,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BMRN. Activest Wealth Management acquired a new stake in BioMarin Pharmaceutical during the 4th quarter valued at approximately $26,000. CIBC Private Wealth Group LLC increased its position in BioMarin Pharmaceutical by 38.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 179 shares during the period. Smartleaf Asset Management LLC increased its position in BioMarin Pharmaceutical by 92.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 360 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth approximately $40,000. Finally, Parallel Advisors LLC boosted its holdings in shares of BioMarin Pharmaceutical by 62.2% during the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after buying an additional 295 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Insider Activity

In related news, EVP Gregory R. Friberg sold 3,281 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $53.85, for a total value of $176,681.85. Following the transaction, the executive vice president directly owned 51,818 shares in the company, valued at $2,790,399.30. This trade represents a 5.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.85% of the stock is currently owned by corporate insiders.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $55.12 on Wednesday. BioMarin Pharmaceutical Inc. has a 12-month low of $49.26 and a 12-month high of $66.28. The business’s fifty day moving average is $54.35 and its 200 day moving average is $56.43. 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 stock has a market cap of $10.65 billion, a P/E ratio of 40.23, a P/E/G ratio of 0.42 and a beta of 0.25.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Truist Financial upgraded BioMarin Pharmaceutical to a “strong-buy” rating in a report on Wednesday, March 25th. Bank of America cut their price target on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. HC Wainwright cut their price target on BioMarin Pharmaceutical from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, May 18th. Citigroup assumed coverage on BioMarin Pharmaceutical in a report on Tuesday, May 19th. They set a “buy” rating and a $75.00 price target on the stock. 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 investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $88.67.

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.