Banque Cantonale Vaudoise Acquires Shares of 16,000 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Key Points

• Banque Cantonale Vaudoise has acquired 16,000 shares of BioMarin Pharmaceutical Inc. valued at approximately $1,131,000 during the first quarter, according to their recent SEC filing.
• Several institutional investors, including GSA Capital Partners LLP and Federated Hermes Inc., have also increased their holdings in BioMarin during the same period, indicating a significant interest in the stock.
• BioMarin's recent analyst ratings show a mix of downgrades and price target adjustments, with an average rating of "Moderate Buy" and a consensus target price of $93.74.

Banque Cantonale Vaudoise bought a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 16,000 shares of the biotechnology company's stock, valued at approximately $1,131,000.

Several other institutional investors and hedge funds have also made changes to their positions in BMRN. GSA Capital Partners LLP lifted its position in BioMarin Pharmaceutical by 99.7% during the first quarter. GSA Capital Partners LLP now owns 14,811 shares of the biotechnology company's stock worth $1,047,000 after buying an additional 7,393 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of BioMarin Pharmaceutical by 3.4% during the 1st quarter. Federated Hermes Inc. now owns 19,647 shares of the biotechnology company's stock worth $1,389,000 after acquiring an additional 648 shares during the period. Neo Ivy Capital Management acquired a new position in shares of BioMarin Pharmaceutical during the 1st quarter valued at about $1,773,000. Assetmark Inc. increased its position in BioMarin Pharmaceutical by 41.5% during the first quarter. Assetmark Inc. now owns 7,007 shares of the biotechnology company's stock worth $495,000 after purchasing an additional 2,054 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in BioMarin Pharmaceutical by 8.4% during the first quarter. Avantax Advisory Services Inc. now owns 6,447 shares of the biotechnology company's stock worth $456,000 after purchasing an additional 497 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,786 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total value of $105,927.66. Following the transaction, the chief accounting officer directly owned 14,173 shares of the company's stock, valued at $840,600.63. This trade represents a 11.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.85% of the stock is owned by company insiders.

BioMarin Pharmaceutical Trading Down 1.6%

Shares of NASDAQ:BMRN opened at $57.85 on Friday. The company has a current ratio of 5.52, a quick ratio of 3.49 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical Inc. has a 52 week low of $52.93 and a 52 week high of $94.85. The company has a market cap of $11.09 billion, a PE ratio of 21.51, a P/E/G ratio of 0.81 and a beta of 0.17. The company's 50 day moving average is $57.09 and its two-hundred day moving average is $61.83.

Analysts Set New Price Targets

BMRN has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Citigroup reduced their target price on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. JPMorgan Chase & Co. increased their price target on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Morgan Stanley cut their price objective on BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating for the company in a research report on Tuesday, July 22nd. Finally, The Goldman Sachs Group reduced their price objective on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Six equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $93.74.

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.

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