Goldman Sachs Group Inc. Purchases 1,083,512 Shares of 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. increased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 212.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,592,963 shares of the biotechnology company's stock after buying an additional 1,083,512 shares during the quarter. Goldman Sachs Group Inc. owned 0.83% of BioMarin Pharmaceutical worth $112,607,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in BMRN. Rise Advisors LLC purchased a new position in shares of BioMarin Pharmaceutical in the first quarter valued at about $30,000. Farther Finance Advisors LLC grew 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 during the last quarter. MassMutual Private Wealth & Trust FSB grew 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 during the last quarter. Brooklyn Investment Group increased its holdings in BioMarin Pharmaceutical by 2,250.0% during the 1st quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company's stock valued at $40,000 after purchasing an additional 540 shares during the period. Finally, Vermillion & White Wealth Management Group LLC bought a new position in BioMarin Pharmaceutical during the 4th quarter valued at approximately $62,000. Hedge funds and other institutional investors own 98.71% of the company's stock.

Wall Street Analysts Forecast Growth

BMRN has been the topic of several recent analyst reports. Guggenheim lifted their price target on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Wall Street Zen raised shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Saturday. JPMorgan Chase & Co. boosted their price target on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Zacks Research lowered shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Finally, HC Wainwright initiated coverage on BioMarin Pharmaceutical in a report on Monday, September 8th. They set a "neutral" rating and a $60.00 target price on the stock. Eighteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of "Moderate Buy" and an average price target of $92.04.

BioMarin Pharmaceutical Stock Down 1.8%

BioMarin Pharmaceutical stock traded down $0.95 during mid-day trading on Monday, hitting $53.14. The company had a trading volume of 1,829,227 shares, compared to its average volume of 1,629,647. BioMarin Pharmaceutical Inc. has a 12 month low of $52.93 and a 12 month high of $78.00. The company has a market capitalization of $10.20 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The stock's 50 day moving average price is $57.93 and its two-hundred day moving average price is $60.25. 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 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.