Focus Partners Advisor Solutions LLC Invests $847,000 in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Focus Partners Advisor Solutions LLC has acquired 11,988 shares of BioMarin Pharmaceutical Inc. valued at approximately $847,000, as reported in its Form 13F filing.
• Institutional investors now hold 98.71% of BioMarin Pharmaceutical's stock, with multiple significant investments made in the first quarter.
• Recent analyst reports have assigned a target price range for BioMarin's stock between $94.00 and $106.00, indicating a generally positive outlook among investment analysts.

Focus Partners Advisor Solutions LLC purchased a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,988 shares of the biotechnology company's stock, valued at approximately $847,000.

Several other institutional investors and hedge funds have also modified their holdings of BMRN. Farther Finance Advisors LLC raised its position in shares of BioMarin Pharmaceutical by 95.9% in the first quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock valued at $29,000 after buying an additional 211 shares in the last quarter. LRI Investments LLC boosted its holdings in shares of BioMarin Pharmaceutical by 856.9% in the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company's stock worth $32,000 after buying an additional 437 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in BioMarin Pharmaceutical by 71.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock valued at $37,000 after buying an additional 218 shares in the last quarter. Brooklyn Investment Group boosted its holdings in BioMarin Pharmaceutical by 2,250.0% in the 1st quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company's stock valued at $40,000 after purchasing an additional 540 shares during the period. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in BioMarin Pharmaceutical in the 4th quarter worth $62,000. Institutional investors and hedge funds own 98.71% of the company's stock.

BioMarin Pharmaceutical Trading Down 2.4%

Shares of BMRN stock traded down $1.39 on Monday, hitting $56.38. The company had a trading volume of 1,821,577 shares, compared to its average volume of 1,919,524. The stock's 50-day moving average is $58.14 and its two-hundred day moving average is $60.87. BioMarin Pharmaceutical Inc. has a twelve month low of $52.93 and a twelve month high of $85.64. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 5.56. The firm has a market cap of $10.83 billion, a P/E ratio of 16.73, a P/E/G ratio of 0.74 and a beta of 0.35.

Analysts Set New Price Targets

BMRN has been the subject of a number of analyst reports. Zacks Research cut shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Raymond James Financial assumed coverage on shares of BioMarin Pharmaceutical in a research note on Wednesday, September 3rd. They set an "outperform" rating and a $85.00 price target on the stock. UBS Group increased their price objective on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. boosted their price target on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Finally, Wall Street Zen downgraded BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a report on Friday. Eighteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of "Moderate Buy" and an average target price of $92.04.

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.