Eagle Health Investments LP Boosts Stake in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Eagle Health Investments LP increased its BioMarin Pharmaceutical stake by 37.9% in the first quarter, adding 138,997 shares to own 505,809 shares valued at approximately $28.6 million.
• Institutional investors own 98.71% of BioMarin’s stock, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $88.26.
• BioMarin shares opened at $60.27, with a 12-month trading range of $49.26 to $66.28; an executive vice president separately sold 3,281 shares in May.

Eagle Health Investments LP boosted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 37.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 505,809 shares of the biotechnology company's stock after purchasing an additional 138,997 shares during the quarter. BioMarin Pharmaceutical comprises 5.0% of Eagle Health Investments LP's investment portfolio, making the stock its 5th biggest position. Eagle Health Investments LP owned about 0.26% of BioMarin Pharmaceutical worth $28,573,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. CIBC Private Wealth Group LLC grew its position in shares of 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 in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in BioMarin Pharmaceutical by 0.4% during 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 buying an additional 183 shares during the period. Nisa Investment Advisors LLC boosted its stake in BioMarin Pharmaceutical by 7.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,741 shares of the biotechnology company's stock valued at $163,000 after buying an additional 195 shares during the period. Caerus Investment Advisors LLC grew its position in BioMarin Pharmaceutical by 2.8% during the fourth quarter. Caerus Investment Advisors LLC now owns 10,236 shares of the biotechnology company's stock worth $608,000 after buying an additional 278 shares in the last quarter. Finally, Chicago Partners Investment Group LLC grew its position in BioMarin Pharmaceutical by 2.4% during the first quarter. Chicago Partners Investment Group LLC now owns 12,183 shares of the biotechnology company's stock worth $660,000 after buying an additional 290 shares in the last quarter. 98.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on BMRN shares. Wall Street Zen cut BioMarin Pharmaceutical from a "buy" rating to a "hold" rating in a report on Saturday, June 6th. Bank of America decreased their price objective on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a "buy" rating on the stock in a research report on Tuesday, May 19th. Weiss Ratings raised shares of BioMarin Pharmaceutical from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, June 26th. Sanford C. Bernstein dropped their target price on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an "outperform" rating for the company in a research report on Tuesday, May 5th. Finally, UBS Group reissued a "neutral" rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $88.26.

BioMarin Pharmaceutical Price Performance

BMRN opened at $60.27 on Tuesday. 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 stock has a market capitalization of $11.65 billion, a P/E ratio of 43.99, a PEG ratio of 0.45 and a beta of 0.24. The stock has a 50-day moving average price of $56.75 and a 200-day moving average price of $56.82. BioMarin Pharmaceutical Inc. has a 12-month low of $49.26 and a 12-month high of $66.28.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of the company's stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 51,818 shares of the company's stock, valued at $2,790,399.30. This represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.68% of the stock is owned by insiders.

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.

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