Stoneridge Investment Partners LLC Grows Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Stoneridge Investment Partners LLC boosted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 151.7% during the 4th quarter, HoldingsChannel reports. The fund owned 10,545 shares of the biotechnology company’s stock after purchasing an additional 6,355 shares during the period. Stoneridge Investment Partners LLC’s holdings in BioMarin Pharmaceutical were worth $693,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. nVerses Capital LLC bought a new position in shares of BioMarin Pharmaceutical during the 3rd quarter valued at approximately $28,000. TD Private Client Wealth LLC boosted its stake in BioMarin Pharmaceutical by 57.4% during the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after buying an additional 186 shares during the period. Meeder Asset Management Inc. increased its position in BioMarin Pharmaceutical by 920.8% during the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 663 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of BioMarin Pharmaceutical by 56.1% in the third quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock valued at $55,000 after acquiring an additional 281 shares during the period. Finally, True Wealth Design LLC raised its stake in shares of BioMarin Pharmaceutical by 13,400.0% in the third quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock valued at $57,000 after acquiring an additional 804 shares during the period. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on BMRN. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, December 12th. Robert W. Baird cut their target price on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $80.00 price target on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 30th. Wolfe Research began coverage on BioMarin Pharmaceutical in a report on Friday, November 15th. They set an “outperform” rating and a $95.00 price objective for the company. Finally, Evercore ISI reduced their target price on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $94.20.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 5,278 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the sale, the executive vice president now owns 68,909 shares of the company’s stock, valued at $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $63.93 on Friday. The firm has a market cap of $12.18 billion, a price-to-earnings ratio of 38.28, a PEG ratio of 0.57 and a beta of 0.28. BioMarin Pharmaceutical Inc. has a 52-week low of $60.63 and a 52-week high of $94.85. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average is $64.97 and its 200 day moving average is $72.26.

About BioMarin Pharmaceutical

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.