Goldman Sachs Group Inc. Has $112.61 Million Stake in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Goldman Sachs significantly increased its stake in BioMarin Pharmaceutical by 212.7%, acquiring over 1 million additional shares to total approximately 1.59 million shares valued at about $112.6 million.
• Institutional investors and hedge funds currently own 98.71% of BioMarin's stock, indicating strong institutional interest in the company.
• BioMarin's stock is currently down 3.3% and has a market cap of $10.39 billion, with a consensus analyst rating of "Moderate Buy" and an average price target of $92.04.

Goldman Sachs Group Inc. grew its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 212.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,592,963 shares of the biotechnology company's stock after acquiring an additional 1,083,512 shares during the quarter. Goldman Sachs Group Inc. owned 0.83% of BioMarin Pharmaceutical worth $112,607,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of BMRN. Captrust Financial Advisors raised its stake in BioMarin Pharmaceutical by 31.3% during the fourth quarter. Captrust Financial Advisors now owns 14,307 shares of the biotechnology company's stock worth $940,000 after acquiring an additional 3,407 shares in the last quarter. Focus Partners Wealth acquired a new position in BioMarin Pharmaceutical during the fourth quarter worth about $480,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in BioMarin Pharmaceutical by 30.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,607 shares of the biotechnology company's stock worth $3,784,000 after acquiring an additional 13,560 shares in the last quarter. OMERS ADMINISTRATION Corp raised its stake in BioMarin Pharmaceutical by 20.4% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 7,895 shares of the biotechnology company's stock worth $519,000 after acquiring an additional 1,340 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV raised its stake in BioMarin Pharmaceutical by 1.5% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 23,253 shares of the biotechnology company's stock worth $1,555,000 after acquiring an additional 334 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Zacks Research downgraded BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Guggenheim boosted their target price on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. UBS Group raised their price objective on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. lifted 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. Finally, Wolfe Research set a $95.00 target price on shares of BioMarin Pharmaceutical and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Fourteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $92.60.

BioMarin Pharmaceutical Trading Up 1.4%

NASDAQ:BMRN traded up $0.77 on Thursday, reaching $55.14. 1,522,397 shares of the stock traded hands, compared to its average volume of 1,728,583. The firm has a market capitalization of $10.59 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The company's 50 day moving average is $57.67 and its 200-day moving average is $60.06. The company has a current ratio of 5.56, a quick ratio of 3.60 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical Inc. has a 1-year low of $52.93 and a 1-year high of $73.51.

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.