BioMarin Pharmaceutical Inc. $BMRN Stock Holdings Boosted by AlphaQuest LLC

Key Points

• AlphaQuest LLC significantly increased its investment in BioMarin Pharmaceutical Inc. by 145.0% during the first quarter, owning a total of 25,261 shares valued at approximately $1.786 million.
• Several other institutional investors also adjusted their stakes, including Nuveen LLC, which made a new purchase worth about $184.5 million in the same quarter.
• BioMarin currently has a market cap of $11.25 billion and a consensus rating of "Moderate Buy" among analysts, with a target price averaging $93.17.

AlphaQuest LLC lifted its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 145.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,261 shares of the biotechnology company's stock after buying an additional 14,950 shares during the quarter. AlphaQuest LLC's holdings in BioMarin Pharmaceutical were worth $1,786,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BMRN. NewEdge Advisors LLC grew its holdings in BioMarin Pharmaceutical by 1,200.4% in the fourth quarter. NewEdge Advisors LLC now owns 3,381 shares of the biotechnology company's stock valued at $222,000 after purchasing an additional 3,121 shares during the period. Tower Research Capital LLC TRC grew its holdings in BioMarin Pharmaceutical by 376.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 16,992 shares of the biotechnology company's stock valued at $1,117,000 after purchasing an additional 13,426 shares during the period. Stifel Financial Corp grew its holdings in BioMarin Pharmaceutical by 4.5% in the fourth quarter. Stifel Financial Corp now owns 31,897 shares of the biotechnology company's stock valued at $2,097,000 after purchasing an additional 1,360 shares during the period. Syon Capital LLC purchased a new stake in BioMarin Pharmaceutical in the fourth quarter valued at approximately $520,000. Finally, Virtus ETF Advisers LLC grew its holdings in BioMarin Pharmaceutical by 35.0% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,277 shares of the biotechnology company's stock valued at $347,000 after purchasing an additional 1,367 shares during the period. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on BMRN. The Goldman Sachs Group reduced 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 report on Monday, May 5th. Wolfe Research set a $95.00 price target on shares of BioMarin Pharmaceutical and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Citigroup reduced their price target on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Zacks Research cut shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Finally, Guggenheim boosted their target price on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Eighteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.17.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN traded down $0.08 on Monday, reaching $58.50. 1,720,244 shares of the company's stock were exchanged, compared to its average volume of 2,557,992. The firm has a market capitalization of $11.23 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 0.75 and a beta of 0.18. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $93.04. The business's 50-day moving average is $57.54 and its two-hundred day moving average is $61.31. The company has a quick ratio of 3.60, a current ratio of 5.56 and a debt-to-equity ratio of 0.10.

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.