BioMarin Pharmaceutical Inc. $BMRN Shares Purchased by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its holdings in BioMarin Pharmaceutical by 8.5%, acquiring an additional 59,473 shares, bringing their total ownership to approximately 0.39% of the company valued at $53.39 million.
• Several large institutional investors have also increased their stakes, with Capital Research Global Investors raising its stake by 23.8% and AQR Capital Management boosting its stake by 114.5%.
• Wall Street analysts have mixed opinions on BMRN, with target price adjustments ranging from a decrease by Citigroup to $78.00 to an increase by JPMorgan Chase to $113.00, with a general consensus rating of "Moderate Buy."

Aberdeen Group plc grew its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 8.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 755,275 shares of the biotechnology company's stock after purchasing an additional 59,473 shares during the quarter. Aberdeen Group plc owned approximately 0.39% of BioMarin Pharmaceutical worth $53,390,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of BMRN. Nuveen LLC acquired a new stake in BioMarin Pharmaceutical during the 1st quarter worth $184,475,000. Capital Research Global Investors raised its stake in BioMarin Pharmaceutical by 23.8% during the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company's stock worth $853,944,000 after acquiring an additional 2,496,817 shares in the last quarter. Soleus Capital Management L.P. acquired a new stake in BioMarin Pharmaceutical during the 4th quarter worth $65,822,000. AQR Capital Management LLC raised its stake in BioMarin Pharmaceutical by 114.5% during the 4th quarter. AQR Capital Management LLC now owns 1,283,599 shares of the biotechnology company's stock worth $84,371,000 after acquiring an additional 685,099 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in BioMarin Pharmaceutical during the 4th quarter worth $44,735,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock traded up $0.6170 during mid-day trading on Wednesday, hitting $57.9270. The stock had a trading volume of 1,056,111 shares, compared to its average volume of 1,935,835. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $94.64. The firm has a market cap of $11.12 billion, a PE ratio of 17.20, a PEG ratio of 0.74 and a beta of 0.18. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.60. The company's 50-day simple moving average is $57.41 and its 200-day simple moving average is $61.47.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BMRN. UBS Group lifted their price target on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Zacks Research lowered shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. The Goldman Sachs Group cut their price target on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Morgan Stanley lowered their price objective on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 22nd. Finally, Wall Street Zen raised shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Eighteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $93.17.

BioMarin Pharmaceutical 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.