EntryPoint Capital LLC Buys Shares of 1,217 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

EntryPoint Capital LLC bought a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,217 shares of the biotechnology company’s stock, valued at approximately $106,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. lifted its stake in BioMarin Pharmaceutical by 2.1% in the fourth quarter. Stratos Wealth Partners LTD. now owns 5,709 shares of the biotechnology company’s stock valued at $550,000 after buying an additional 115 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of BioMarin Pharmaceutical by 1.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock valued at $932,000 after purchasing an additional 130 shares in the last quarter. 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 valued at $56,000 after purchasing an additional 144 shares in the last quarter. Atria Wealth Solutions Inc. raised its stake in shares of BioMarin Pharmaceutical by 1.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 9,729 shares of the biotechnology company’s stock valued at $938,000 after purchasing an additional 153 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its stake in shares of BioMarin Pharmaceutical by 0.4% during the first quarter. IFM Investors Pty Ltd now owns 38,328 shares of the biotechnology company’s stock valued at $3,348,000 after purchasing an additional 158 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Evercore ISI assumed coverage on shares of BioMarin Pharmaceutical in a research note on Tuesday, May 14th. They set an “outperform” rating and a $113.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $110.00 price objective on shares of BioMarin Pharmaceutical in a research note on Monday, July 22nd. Morgan Stanley cut their price objective on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday, April 26th. Scotiabank lifted their price objective on shares of BioMarin Pharmaceutical from $83.00 to $85.00 and gave the company a “sector perform” rating in a research note on Thursday, April 25th. Finally, Robert W. Baird cut shares of BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $104.00 to $72.00 in a research note on Friday, May 17th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.00.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 1,850 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $85.01, for a total transaction of $157,268.50. Following the transaction, the executive vice president now owns 56,157 shares of the company’s stock, valued at approximately $4,773,906.57. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 1,850 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $85.01, for a total transaction of $157,268.50. Following the transaction, the executive vice president now owns 56,157 shares of the company’s stock, valued at approximately $4,773,906.57. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brian Mueller sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $75.19, for a total value of $375,950.00. Following the transaction, the chief financial officer now directly owns 72,159 shares in the company, valued at approximately $5,425,635.21. The disclosure for this sale can be found here. Insiders have sold a total of 67,700 shares of company stock valued at $5,209,352 in the last 90 days. 1.85% of the stock is currently owned by corporate insiders.

BioMarin Pharmaceutical Trading Down 1.2 %

Shares of BMRN opened at $84.59 on Friday. The business’s 50-day moving average price is $81.75 and its 200 day moving average price is $85.55. The stock has a market capitalization of $16.06 billion, a P/E ratio of 79.06, a P/E/G ratio of 1.22 and a beta of 0.32. BioMarin Pharmaceutical Inc. has a 1-year low of $73.68 and a 1-year high of $99.56. The company has a current ratio of 2.74, a quick ratio of 1.70 and a debt-to-equity ratio of 0.12.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.12. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. The company had revenue of $648.83 million for the quarter, compared to analysts’ expectations of $649.75 million. Analysts expect that BioMarin Pharmaceutical Inc. will post 2 earnings per share for the current year.

BioMarin Pharmaceutical Company Profile

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.