AQR Capital Management LLC Purchases 1,642,206 Shares of BioMarin Pharmaceutical Inc. $BMRN

Key Points

• AQR Capital Management LLC significantly increased its stake in BioMarin Pharmaceutical by 127.9% during the first quarter, owning approximately 1.53% of the company valued at $203.99 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for BioMarin Pharmaceutical, with an average target price of $93.43, indicating optimism about the stock's growth.
• Despite the recent activity, BioMarin Pharmaceutical's stock is down 0.2%, with current pricing at $58.98, and a 12-month range between $52.93 and $92.05.

AQR Capital Management LLC grew its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 127.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,925,805 shares of the biotechnology company's stock after purchasing an additional 1,642,206 shares during the period. AQR Capital Management LLC owned about 1.53% of BioMarin Pharmaceutical worth $203,987,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Dodge & Cox grew its position in shares of BioMarin Pharmaceutical by 1.4% during the 1st quarter. Dodge & Cox now owns 14,955,240 shares of the biotechnology company's stock worth $1,057,186,000 after purchasing an additional 209,005 shares in the last quarter. Nuveen LLC acquired a new position in shares of BioMarin Pharmaceutical during the 1st quarter worth approximately $184,475,000. Charles Schwab Investment Management Inc. grew its position in shares of BioMarin Pharmaceutical by 7.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,532,314 shares of the biotechnology company's stock worth $108,319,000 after purchasing an additional 108,806 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of BioMarin Pharmaceutical by 19.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,055,087 shares of the biotechnology company's stock worth $69,351,000 after purchasing an additional 174,634 shares in the last quarter. Finally, Soleus Capital Management L.P. acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $65,822,000. Institutional investors and hedge funds own 98.71% of the company's stock.

BioMarin Pharmaceutical Stock Down 1.4%

Shares of BMRN traded down $0.79 during trading hours on Tuesday, reaching $55.59. 583,188 shares of the stock traded hands, compared to its average volume of 1,913,633. The company has a current ratio of 5.56, a quick ratio of 3.60 and a debt-to-equity ratio of 0.10. The stock has a fifty day simple moving average of $58.17 and a 200 day simple moving average of $60.79. BioMarin Pharmaceutical Inc. has a 52 week low of $52.93 and a 52 week high of $85.64. The company has a market cap of $10.67 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 0.74 and a beta of 0.35.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BMRN shares. Wall Street Zen lowered shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research report on Friday. JPMorgan Chase & Co. increased their price objective on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Wedbush reaffirmed an "outperform" rating and set a $94.00 price target 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 stock an "outperform" rating in a research note on Tuesday, July 15th. Finally, Guggenheim lifted their target price on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Eighteen 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 currently has a consensus rating of "Moderate Buy" and an average price target of $92.04.

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.