APG Asset Management N.V. Boosts Position in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• APG Asset Management N.V. significantly increased its stake in BioMarin Pharmaceutical Inc. by 40.5% during the first quarter, now holding 186,867 shares valued at approximately $12.23 million.
• Institutional ownership of BioMarin Pharmaceutical is substantial, with 98.71% of the stock owned by institutional investors and hedge funds, indicating strong confidence in the company.
• Analysts have varying outlooks on BioMarin, with target prices ranging from $94.00 to $113.00, and an overall average rating of "Moderate Buy" as reported by MarketBeat.

APG Asset Management N.V. lifted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 40.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 186,867 shares of the biotechnology company's stock after purchasing an additional 53,880 shares during the period. APG Asset Management N.V. owned about 0.10% of BioMarin Pharmaceutical worth $12,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC increased 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 purchasing an additional 211 shares in the last quarter. LRI Investments LLC increased 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 purchasing an additional 437 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased 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 purchasing an additional 218 shares in the last quarter. Brooklyn Investment Group boosted its position in shares of BioMarin Pharmaceutical by 2,250.0% during the first quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company's stock worth $40,000 after acquiring an additional 540 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC bought a new position in shares of BioMarin Pharmaceutical during the fourth quarter worth $62,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BMRN shares. Wedbush restated an "outperform" rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday, August 5th. Wall Street Zen upgraded shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Citigroup dropped their target price on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Guggenheim upped 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. Finally, JPMorgan Chase & Co. upped their target price on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Eighteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $93.17.

BioMarin Pharmaceutical Trading Up 1.0%

Shares of BioMarin Pharmaceutical stock traded up $0.59 during trading on Friday, hitting $58.27. The stock had a trading volume of 1,269,740 shares, compared to its average volume of 1,926,321. The firm's fifty day simple moving average is $57.70 and its 200-day simple moving average is $61.23. The stock has a market cap of $11.19 billion, a PE ratio of 17.29, a PEG ratio of 0.75 and a beta of 0.18. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.60. BioMarin Pharmaceutical Inc. has a 12 month low of $52.93 and a 12 month high of $93.04.

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.