Entropy Technologies LP Invests $500,000 in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Entropy Technologies LP acquired a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,604 shares of the biotechnology company’s stock, valued at approximately $500,000.

Other large investors have also recently made changes to their positions in the company. Primecap Management Co. CA increased its holdings in BioMarin Pharmaceutical by 0.4% in the 3rd quarter. Primecap Management Co. CA now owns 18,867,435 shares of the biotechnology company’s stock worth $1,326,192,000 after buying an additional 77,350 shares in the last quarter. Geode Capital Management LLC boosted its holdings in BioMarin Pharmaceutical by 1.9% in the third quarter. Geode Capital Management LLC now owns 3,260,050 shares of the biotechnology company’s stock worth $228,632,000 after purchasing an additional 60,692 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in BioMarin Pharmaceutical by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,401,628 shares of the biotechnology company’s stock worth $98,520,000 after purchasing an additional 55,699 shares during the period. abrdn plc raised its stake in BioMarin Pharmaceutical by 31.9% during the 4th quarter. abrdn plc now owns 695,802 shares of the biotechnology company’s stock valued at $45,735,000 after buying an additional 168,121 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new position in shares of BioMarin Pharmaceutical during the 3rd quarter valued at $48,527,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BMRN shares. JPMorgan Chase & Co. dropped their target price on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Citigroup decreased their price target on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. StockNews.com raised shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Canaccord Genuity Group lowered their target price on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Finally, Evercore ISI decreased their price objective 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 equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.20.

BioMarin Pharmaceutical Trading Up 3.6 %

NASDAQ:BMRN opened at $65.86 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. The firm has a market cap of $12.55 billion, a P/E ratio of 39.44, a P/E/G ratio of 0.57 and a beta of 0.28. BioMarin Pharmaceutical Inc. has a one year low of $60.63 and a one year high of $94.85. The firm has a 50-day simple moving average of $64.95 and a 200-day simple moving average of $71.78.

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.