Federation des caisses Desjardins du Quebec Buys 6,960 Shares of BioMarin Pharmaceutical Inc. $BMRN

Federation des caisses Desjardins du Quebec boosted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 48.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,433 shares of the biotechnology company's stock after purchasing an additional 6,960 shares during the period. Federation des caisses Desjardins du Quebec's holdings in BioMarin Pharmaceutical were worth $1,515,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vestal Point Capital LP increased its stake in shares of BioMarin Pharmaceutical by 115.0% in the fourth quarter. Vestal Point Capital LP now owns 860,000 shares of the biotechnology company's stock worth $56,528,000 after acquiring an additional 460,000 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of BioMarin Pharmaceutical by 154.0% in the 1st quarter. GAMMA Investing LLC now owns 3,129 shares of the biotechnology company's stock valued at $221,000 after buying an additional 1,897 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in BioMarin Pharmaceutical by 12.3% in the first quarter. Robeco Institutional Asset Management B.V. now owns 97,261 shares of the biotechnology company's stock worth $6,875,000 after buying an additional 10,687 shares during the last quarter. Asset Management One Co. Ltd. raised its position in BioMarin Pharmaceutical by 5.3% during the first quarter. Asset Management One Co. Ltd. now owns 80,879 shares of the biotechnology company's stock valued at $5,717,000 after acquiring an additional 4,094 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in BioMarin Pharmaceutical by 56.6% in the first quarter. Janney Montgomery Scott LLC now owns 12,016 shares of the biotechnology company's stock valued at $849,000 after acquiring an additional 4,345 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company's stock.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock traded down $1.82 during midday trading on Friday, hitting $54.09. 1,929,839 shares of the company were exchanged, compared to its average volume of 1,659,422. The firm has a 50 day simple moving average of $58.02 and a 200-day simple moving average of $60.50. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.60. The firm has a market cap of $10.39 billion, a P/E ratio of 16.05, a PEG ratio of 0.71 and a beta of 0.35. BioMarin Pharmaceutical Inc. has a 52 week low of $52.93 and a 52 week high of $85.00.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BMRN shares. Morgan Stanley reduced their price objective on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating for the company in a research note on Tuesday, July 22nd. Zacks Research downgraded shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Raymond James Financial initiated coverage on shares of BioMarin Pharmaceutical in a report on Wednesday, September 3rd. They issued an "outperform" rating and a $85.00 target price on the stock. UBS Group upped their price target 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. Finally, Wedbush reaffirmed an "outperform" rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, August 5th. Eighteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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.