BioMarin Pharmaceutical Inc. $BMRN Shares Acquired by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board increased its stake in BioMarin Pharmaceutical by 1.5%, acquiring an additional 7,100 shares during the first quarter, bringing its total ownership to approximately 481,600 shares.
• Wall Street analysts have shown a positive outlook on BioMarin Pharmaceutical, with 18 analysts rating it as a Buy and setting an average target price of $93.17.
• BioMarin Pharmaceutical Inc. specializes in developing treatments for serious and life-threatening rare diseases, with key products including Vimizim and Kuvan, and has a current market cap of $11.19 billion.

Canada Pension Plan Investment Board raised its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 481,600 shares of the biotechnology company's stock after purchasing an additional 7,100 shares during the period. Canada Pension Plan Investment Board owned about 0.25% of BioMarin Pharmaceutical worth $34,044,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Byrne Financial Freedom LLC boosted its position in shares of BioMarin Pharmaceutical by 4.4% in the first quarter. Byrne Financial Freedom LLC now owns 3,852 shares of the biotechnology company's stock worth $272,000 after acquiring an additional 161 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of BioMarin Pharmaceutical by 0.9% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,523 shares of the biotechnology company's stock worth $1,592,000 after acquiring an additional 197 shares during the last quarter. Xponance Inc. boosted its position in shares of BioMarin Pharmaceutical by 0.6% in the first quarter. Xponance Inc. now owns 31,877 shares of the biotechnology company's stock worth $2,253,000 after acquiring an additional 202 shares during the last quarter. Farther Finance Advisors LLC boosted its position 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 acquiring an additional 211 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of BioMarin Pharmaceutical by 5.0% in the first quarter. Nisa Investment Advisors LLC now owns 4,572 shares of the biotechnology company's stock worth $323,000 after acquiring an additional 217 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on BMRN shares. Wolfe Research set a $95.00 target price on shares of BioMarin Pharmaceutical and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Zacks Research lowered shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. raised their price target on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Wall Street Zen upgraded shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, Guggenheim raised 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. Eighteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $93.43.

BioMarin Pharmaceutical Stock Down 3.8%

Shares of BMRN stock traded down $2.23 during mid-day trading on Thursday, reaching $56.75. 2,345,624 shares of the company were exchanged, compared to its average volume of 1,924,551. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $90.01. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 5.56. The company has a market capitalization of $10.90 billion, a P/E ratio of 16.84, a P/E/G ratio of 0.74 and a beta of 0.35. The business's 50 day simple moving average is $58.04 and its 200 day simple moving average is $61.06.

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.