Candriam S.C.A. Purchases 27,640 Shares of BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Candriam S.C.A. increased its stake in BioMarin Pharmaceutical by 4.8%, purchasing an additional 27,640 shares, bringing its total to 607,862 shares valued at approximately $42.97 million.
• Institutional investors own 98.71% of BioMarin's stock, with significant new investments from firms like Nuveen LLC and Fuller & Thaler Asset Management.
• Market analysts have mixed ratings on BioMarin, with price targets ranging from $78.00 to $106.00, highlighting a general expectation of growth despite some recent profit-taking.

Candriam S.C.A. boosted its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 4.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 607,862 shares of the biotechnology company's stock after purchasing an additional 27,640 shares during the period. Candriam S.C.A. owned about 0.32% of BioMarin Pharmaceutical worth $42,970,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BMRN. Nuveen LLC bought a new position in BioMarin Pharmaceutical during the 1st quarter valued at about $184,475,000. Soleus Capital Management L.P. bought a new position in BioMarin Pharmaceutical during the 4th quarter valued at about $65,822,000. Fuller & Thaler Asset Management Inc. bought a new position in BioMarin Pharmaceutical during the 1st quarter valued at about $59,125,000. AQR Capital Management LLC lifted its holdings in BioMarin Pharmaceutical by 114.5% during the 4th quarter. AQR Capital Management LLC now owns 1,283,599 shares of the biotechnology company's stock valued at $84,371,000 after purchasing an additional 685,099 shares during the last quarter. Finally, Vestal Point Capital LP lifted its holdings in BioMarin Pharmaceutical by 115.0% during the 4th quarter. Vestal Point Capital LP now owns 860,000 shares of the biotechnology company's stock valued at $56,528,000 after purchasing an additional 460,000 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Citigroup cut their price target on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Wall Street Zen raised shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Guggenheim boosted their target price on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Morgan Stanley dropped their target price 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. Finally, Wolfe Research set a $95.00 target price on shares of BioMarin Pharmaceutical and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Eighteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.17.

BioMarin Pharmaceutical Stock Down 0.2%

Shares of NASDAQ:BMRN opened at $57.31 on Wednesday. BioMarin Pharmaceutical Inc. has a one year low of $52.93 and a one year high of $94.85. The company has a 50 day moving average of $57.41 and a 200-day moving average of $61.47. 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 stock has a market cap of $11.00 billion, a price-to-earnings ratio of 17.01, a P/E/G ratio of 0.74 and a beta of 0.18.

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.

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