Trexquant Investment LP Sells 11,868 Shares of BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Trexquant Investment LP reduced its stake in BioMarin Pharmaceutical Inc. by 5.4% in the first quarter, now owning approximately 0.11% of the company.
• Multiple institutional investors adjusted their holdings in BioMarin, with Byrne Financial Freedom LLC reporting a 4.4% increase, while Farther Finance Advisors LLC saw a significant 95.9% rise.
• Analyst ratings for BioMarin vary, with UBS Group increasing its target price to $114.00 and giving a "buy" rating, while Zacks Research downgraded the stock from "strong-buy" to "hold."

Trexquant Investment LP decreased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 207,172 shares of the biotechnology company's stock after selling 11,868 shares during the period. Trexquant Investment LP owned 0.11% of BioMarin Pharmaceutical worth $14,645,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in BioMarin Pharmaceutical by 95.9% in the first quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock valued at $29,000 after acquiring an additional 211 shares during the last quarter. LRI Investments LLC boosted its holdings in BioMarin Pharmaceutical by 856.9% in the fourth quarter. LRI Investments LLC now owns 488 shares of the biotechnology company's stock valued at $32,000 after acquiring an additional 437 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in BioMarin Pharmaceutical by 71.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock valued at $37,000 after acquiring an additional 218 shares during the last quarter. Brooklyn Investment Group lifted its stake in shares of BioMarin Pharmaceutical by 2,250.0% in 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 acquired a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at $62,000. Institutional investors own 98.71% of the company's stock.

Wall Street Analyst Weigh In

BMRN has been the topic of a number of analyst reports. Guggenheim increased their price target on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Wolfe Research set a $95.00 price target on BioMarin Pharmaceutical and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Morgan Stanley cut their price target on BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 22nd. Zacks Research downgraded BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Finally, UBS Group raised their price objective on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Eighteen investment analysts have rated the stock with a Buy rating and seven 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 target price of $93.17.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock traded up $0.59 during mid-day trading on Monday, hitting $58.27. 1,269,740 shares of the company's stock traded hands, compared to its average volume of 2,402,382. 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 50 day simple moving average of $57.85 and a two-hundred day simple moving average of $61.09. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $93.04. The stock has a market cap of $11.19 billion, a price-to-earnings ratio of 17.29, a P/E/G ratio of 0.74 and a beta of 0.35.

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.