BioMarin Pharmaceutical Inc. $BMRN Shares Acquired by Covea Finance

Key Points

• Covea Finance increased its stake in BioMarin Pharmaceutical by 27.3%, owning 135,300 shares valued at approximately $7.4 million as of the latest SEC filing.
• A significant portion of BioMarin's stock, 98.71%, is currently held by institutional investors and hedge funds, indicating strong backing from large entities.
• Investment analysts have a generally positive outlook on BioMarin, with a consensus rating of "Moderate Buy" and a price target of $92.60, despite some fluctuations in individual ratings.

Covea Finance boosted its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 27.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 135,300 shares of the biotechnology company's stock after acquiring an additional 29,000 shares during the period. Covea Finance owned 0.07% of BioMarin Pharmaceutical worth $7,437,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BMRN. Nuveen LLC acquired a new position in BioMarin Pharmaceutical in the first quarter valued at approximately $184,475,000. AQR Capital Management LLC lifted its holdings in BioMarin Pharmaceutical by 127.9% in the first quarter. AQR Capital Management LLC now owns 2,925,805 shares of the biotechnology company's stock valued at $203,987,000 after acquiring an additional 1,642,206 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in BioMarin Pharmaceutical by 212.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company's stock valued at $112,607,000 after acquiring an additional 1,083,512 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in BioMarin Pharmaceutical in the first quarter valued at approximately $59,125,000. Finally, Parkman Healthcare Partners LLC acquired a new position in BioMarin Pharmaceutical in the first quarter valued at approximately $19,599,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $53.94 on Tuesday. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $73.51. The company has a market capitalization of $10.36 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The firm has a 50-day simple moving average of $57.51 and a 200-day simple moving average of $59.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 5.56.

Analyst Upgrades and Downgrades

BMRN has been the topic of a number of research reports. Wall Street Zen upgraded BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 13th. Morgan Stanley decreased their price target on BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 22nd. Wolfe Research set a $95.00 price objective on BioMarin Pharmaceutical and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Zacks Research lowered BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Finally, JPMorgan Chase & Co. upped their price objective on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Fourteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of "Moderate Buy" and a consensus price target of $92.60.

About BioMarin Pharmaceutical

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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