Bayforest Capital Ltd Invests $552,000 in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Bayforest Capital Ltd has invested $552,000 in BioMarin Pharmaceutical Inc., acquiring 7,808 shares during the first quarter.
• Several institutional investors, including Dodge & Cox and Goldman Sachs, have also significantly increased their stakes in BioMarin in recent months.
• Analysts have mixed ratings on BioMarin, with a consensus price target of $92.04 and a distribution of 18 Buy ratings versus 8 Hold ratings.

Bayforest Capital Ltd acquired a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,808 shares of the biotechnology company's stock, valued at approximately $552,000.

A number of other institutional investors and hedge funds have also modified their holdings of BMRN. Farther Finance Advisors LLC lifted its stake 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 worth $29,000 after buying an additional 211 shares during the last quarter. Rise Advisors LLC acquired a new stake in shares of BioMarin Pharmaceutical in the first quarter worth $30,000. LRI Investments LLC lifted its stake in shares of BioMarin Pharmaceutical by 856.9% in the fourth 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 lifted its stake in shares of BioMarin Pharmaceutical by 71.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock worth $37,000 after buying an additional 218 shares during the last quarter. Finally, Brooklyn Investment Group lifted its stake in shares of BioMarin Pharmaceutical by 2,250.0% in the first quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company's stock worth $40,000 after buying an additional 540 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BMRN shares. Zacks Research cut shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Wedbush restated an "outperform" rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Tuesday, August 5th. Wolfe Research set a $95.00 target price on shares of BioMarin Pharmaceutical and gave the company an "outperform" rating in a research note on Tuesday, July 15th. UBS Group upped their target price on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Guggenheim upped their target price on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Eighteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $92.04.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock traded down $1.82 on Friday, hitting $54.09. The company's stock had a trading volume of 1,929,839 shares, compared to its average volume of 1,659,422. The firm has a market cap of $10.39 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 0.71 and a beta of 0.35. The company has a quick ratio of 3.60, a current ratio of 5.56 and a debt-to-equity ratio of 0.10. The company has a fifty day moving average price of $58.02 and a 200-day moving average price of $60.44. BioMarin Pharmaceutical Inc. has a one year low of $52.93 and a one year high of $85.00.

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.