Raiffeisen Bank International AG Increases Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Key Points

• Raiffeisen Bank International AG increased its holdings in BioMarin Pharmaceutical by 39.4% in the first quarter, owning 21,829 shares worth approximately $1.56 million after acquiring an additional 6,171 shares.
• BioMarin Pharmaceutical reported $1.23 earnings per share for the last quarter, exceeding analyst estimates of $1.02, with total revenue reaching $825 million, up 15.9% year-over-year.
• Analysts have varying price targets for BioMarin stock, with Wolfe Research setting a target of $95 and JPMorgan Chase increasing their target from $108 to $113 while maintaining an "overweight" rating.

Raiffeisen Bank International AG raised its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 39.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,829 shares of the biotechnology company's stock after acquiring an additional 6,171 shares during the period. Raiffeisen Bank International AG's holdings in BioMarin Pharmaceutical were worth $1,559,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BMRN. Vestal Point Capital LP increased its holdings in shares of BioMarin Pharmaceutical by 115.0% during the 4th quarter. Vestal Point Capital LP now owns 860,000 shares of the biotechnology company's stock worth $56,528,000 after buying an additional 460,000 shares during the last quarter. GAMMA Investing LLC increased its holdings in 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 purchasing an additional 1,897 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in BioMarin Pharmaceutical by 12.3% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 97,261 shares of the biotechnology company's stock valued at $6,875,000 after purchasing an additional 10,687 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in BioMarin Pharmaceutical by 5.3% in the 1st quarter. Asset Management One Co. Ltd. now owns 80,879 shares of the biotechnology company's stock valued at $5,717,000 after purchasing an additional 4,094 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in BioMarin Pharmaceutical by 56.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,016 shares of the biotechnology company's stock valued at $849,000 after purchasing an additional 4,345 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company's stock.

Insiders Place Their Bets

In related news, CAO Erin Burkhart sold 1,786 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total value of $105,927.66. Following the completion of the sale, the chief accounting officer directly owned 14,173 shares of the company's stock, valued at $840,600.63. The trade was a 11.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.85% of the stock is currently owned by company insiders.

BioMarin Pharmaceutical Stock Performance

BMRN traded down $2.13 on Friday, reaching $57.33. The company had a trading volume of 3,523,307 shares, compared to its average volume of 2,308,645. BioMarin Pharmaceutical Inc. has a 1 year low of $52.93 and a 1 year high of $94.85. The stock has a market capitalization of $11.01 billion, a PE ratio of 17.01, a P/E/G ratio of 0.82 and a beta of 0.18. The company has a quick ratio of 3.49, a current ratio of 5.56 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average price of $57.29 and a 200-day moving average price of $61.74.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BMRN shares. Wolfe Research set a $95.00 target price on shares of BioMarin Pharmaceutical and gave the company an "outperform" rating in a report on Tuesday, July 15th. Guggenheim lifted their target price on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a "buy" rating in a report on Wednesday. Wedbush reiterated an "outperform" rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday. Wall Street Zen upgraded shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Morgan Stanley decreased their price target on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating for the company in a research report on Tuesday, July 22nd. Six investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $93.17.

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.