Algert Global LLC Has $7.49 Million Stock Holdings in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Algert Global LLC increased its stake in BioMarin Pharmaceutical by 151.5% during the first quarter, owning approximately 105,878 shares valued at $7.485 million.
• Several large investors, including Nuveen LLC, also made significant investments in BioMarin, with hedge funds owning 98.71% of the company's stock.
• Wall Street analysts are generally optimistic, with an average rating of "Moderate Buy" and a price target of $93.17 for BioMarin's stock.

Algert Global LLC grew its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 151.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,878 shares of the biotechnology company's stock after acquiring an additional 63,783 shares during the quarter. Algert Global LLC owned about 0.06% of BioMarin Pharmaceutical worth $7,485,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BMRN. Byrne Financial Freedom LLC increased its holdings in shares of BioMarin Pharmaceutical by 4.4% during the first quarter. Byrne Financial Freedom LLC now owns 3,852 shares of the biotechnology company's stock valued at $272,000 after purchasing an additional 161 shares during the period. Freedom Investment Management Inc. boosted its position in BioMarin Pharmaceutical by 3.8% during the 4th quarter. Freedom Investment Management Inc. now owns 5,022 shares of the biotechnology company's stock worth $330,000 after acquiring an additional 184 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its position in BioMarin Pharmaceutical by 0.9% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,523 shares of the biotechnology company's stock worth $1,592,000 after acquiring an additional 197 shares during the period. Xponance Inc. raised its stake in shares of BioMarin Pharmaceutical by 0.6% during the 1st quarter. Xponance Inc. now owns 31,877 shares of the biotechnology company's stock worth $2,253,000 after purchasing an additional 202 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of BioMarin Pharmaceutical by 95.9% during the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 211 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BMRN shares. UBS Group raised their price objective on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Wolfe Research set a $95.00 price objective on BioMarin Pharmaceutical and gave the stock an "outperform" rating in a report on Tuesday, July 15th. The Goldman Sachs Group decreased their price target on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Wedbush reissued an "outperform" rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Tuesday, August 5th. Finally, Zacks Research lowered BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Eighteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $93.17.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN traded up $0.65 during mid-day trading on Wednesday, hitting $57.96. 1,763,202 shares of the stock were exchanged, compared to its average volume of 2,541,929. The stock has a market capitalization of $11.13 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 0.74 and a beta of 0.18. 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's 50-day simple moving average is $57.43 and its 200 day simple moving average is $61.45. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $94.64.

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.