Iron Triangle Partners LP Buys New Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Iron Triangle Partners LP bought a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRNFree Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 200,000 shares of the biotechnology company’s stock, valued at approximately $19,284,000. BioMarin Pharmaceutical makes up about 2.5% of Iron Triangle Partners LP’s investment portfolio, making the stock its 19th biggest position. Iron Triangle Partners LP owned about 0.11% of BioMarin Pharmaceutical as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. KB Financial Partners LLC raised its stake in BioMarin Pharmaceutical by 51.3% in the third quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 118 shares in the last quarter. Lindbrook Capital LLC raised its stake in BioMarin Pharmaceutical by 259.8% in the fourth quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 278 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of BioMarin Pharmaceutical by 135.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 249 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of BioMarin Pharmaceutical during the fourth quarter worth approximately $43,000. Finally, First Horizon Advisors Inc. raised its stake in shares of BioMarin Pharmaceutical by 33.3% during the fourth quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 144 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at BioMarin Pharmaceutical

In other news, CFO Brian Mueller sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $75.19, for a total value of $375,950.00. Following the completion of the transaction, the chief financial officer now owns 72,159 shares of the company’s stock, valued at approximately $5,425,635.21. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Brian Mueller sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $75.19, for a total value of $375,950.00. Following the completion of the transaction, the chief financial officer now owns 72,159 shares of the company’s stock, valued at approximately $5,425,635.21. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Erin Burkhart sold 2,286 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total value of $205,740.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,156 shares of the company’s stock, valued at approximately $1,454,040. The disclosure for this sale can be found here. Insiders sold a total of 114,588 shares of company stock valued at $9,413,633 in the last quarter. 1.85% of the stock is owned by insiders.

BioMarin Pharmaceutical Stock Up 0.7 %

BioMarin Pharmaceutical stock traded up $0.58 on Wednesday, hitting $84.45. 1,105,351 shares of the stock traded hands, compared to its average volume of 1,671,288. The company has a current ratio of 2.74, a quick ratio of 1.70 and a debt-to-equity ratio of 0.12. The firm has a market cap of $16.04 billion, a P/E ratio of 78.38, a price-to-earnings-growth ratio of 1.18 and a beta of 0.31. The business’s fifty day simple moving average is $82.71 and its 200 day simple moving average is $88.02. BioMarin Pharmaceutical Inc. has a 1 year low of $73.68 and a 1 year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.12. The firm had revenue of $648.83 million during the quarter, compared to analyst estimates of $649.75 million. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. As a group, sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 1.99 earnings per share for the current year.

Analysts Set New Price Targets

BMRN has been the topic of several research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Piper Sandler decreased their price target on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Cantor Fitzgerald reissued an “overweight” rating and set a $110.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, April 25th. Baird R W downgraded shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Robert W. Baird cut shares of BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $104.00 to $72.00 in a report on Friday, May 17th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.11.

Check Out Our Latest Report on BioMarin Pharmaceutical

BioMarin Pharmaceutical Profile

(Free Report)

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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