Paragon Capital Management Inc. Invests $1.19 Million in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Paragon Capital Management opened a new position in BioMarin, buying 20,040 shares worth about $1.19 million in the fourth quarter, and institutional investors now own roughly 98.71% of the stock after multiple funds increased or initiated positions.
• Two executive VPs recently sold stock—Charles Greg Guyer sold 16,486 shares at an average of $60.46 and Gregory R. Friberg sold 6,326 shares at $60.38—reducing their holdings and leaving insiders with about 0.85% ownership.
• Analysts have an average rating of "Moderate Buy" with a consensus price target of $90.00, versus the recent share price around $54.53, implying significant upside according to the analyst consensus.

Paragon Capital Management Inc. purchased a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 20,040 shares of the biotechnology company's stock, valued at approximately $1,191,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Financiere des Professionnels Fonds d investissement inc. acquired a new position in BioMarin Pharmaceutical during the third quarter worth $1,047,000. Federated Hermes Inc. increased its position in BioMarin Pharmaceutical by 292.6% during the third quarter. Federated Hermes Inc. now owns 278,315 shares of the biotechnology company's stock worth $15,074,000 after buying an additional 207,430 shares during the last quarter. Mediolanum International Funds Ltd increased its position in BioMarin Pharmaceutical by 56.2% during the third quarter. Mediolanum International Funds Ltd now owns 137,675 shares of the biotechnology company's stock worth $7,437,000 after buying an additional 49,534 shares during the last quarter. Rice Hall James & Associates LLC increased its position in BioMarin Pharmaceutical by 1,693.1% during the third quarter. Rice Hall James & Associates LLC now owns 103,425 shares of the biotechnology company's stock worth $5,601,000 after buying an additional 97,657 shares during the last quarter. Finally, Rakuten Investment Management Inc. acquired a new position in BioMarin Pharmaceutical during the third quarter worth $1,265,000. Institutional investors and hedge funds own 98.71% of the company's stock.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $54.53 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.21 and a quick ratio of 3.50. BioMarin Pharmaceutical Inc. has a 52-week low of $50.76 and a 52-week high of $66.28. The company has a 50-day moving average of $58.35 and a two-hundred day moving average of $56.29. The stock has a market capitalization of $10.49 billion, a price-to-earnings ratio of 30.64, a price-to-earnings-growth ratio of 0.54 and a beta of 0.29.

Insider Transactions at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 16,486 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $60.46, for a total value of $996,743.56. Following the completion of the sale, the executive vice president owned 79,953 shares in the company, valued at approximately $4,833,958.38. This trade represents a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gregory R. Friberg sold 6,326 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $60.38, for a total transaction of $381,963.88. Following the completion of the sale, the executive vice president owned 37,578 shares of the company's stock, valued at approximately $2,268,959.64. The trade was a 14.41% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.85% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BMRN has been the topic of several analyst reports. Weiss Ratings raised shares of BioMarin Pharmaceutical from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, March 31st. Wells Fargo & Company increased their target price on shares of BioMarin Pharmaceutical from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 18th. Bank of America lowered their target price on shares of BioMarin Pharmaceutical from $97.00 to $85.00 and set a "buy" rating on the stock in a research report on Wednesday, March 11th. Guggenheim lowered their target price on shares of BioMarin Pharmaceutical from $106.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, February 25th. Finally, HC Wainwright lowered their target price on shares of BioMarin Pharmaceutical from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $90.00.

About BioMarin Pharmaceutical

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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