Chicago Partners Investment Group LLC Purchases New Stake in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Chicago Partners Investment Group LLC acquired a new stake in BioMarin Pharmaceutical Inc., purchasing 6,144 shares valued at approximately $367,000 during the 2nd quarter.
• Goldman Sachs Group Inc. significantly increased its position in BioMarin by 212.7%, owning over 1.5 million shares, suggesting positive institutional sentiment towards the company.
• Analysts have recently downgraded BioMarin's stock rating, with Wall Street Zen moving it from "strong-buy" to "buy," indicating shifting market expectations.

Chicago Partners Investment Group LLC purchased a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,144 shares of the biotechnology company's stock, valued at approximately $367,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in shares of BioMarin Pharmaceutical by 212.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company's stock valued at $112,607,000 after acquiring an additional 1,083,512 shares in the last quarter. Covea Finance raised its position in shares of BioMarin Pharmaceutical by 27.3% during the 2nd quarter. Covea Finance now owns 135,300 shares of the biotechnology company's stock valued at $7,437,000 after acquiring an additional 29,000 shares in the last quarter. GAMMA Investing LLC raised its position in shares of BioMarin Pharmaceutical by 154.0% during the 1st quarter. GAMMA Investing LLC now owns 3,129 shares of the biotechnology company's stock valued at $221,000 after acquiring an additional 1,897 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of BioMarin Pharmaceutical by 12.3% during 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 acquiring an additional 10,687 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of BioMarin Pharmaceutical by 0.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,064,924 shares of the biotechnology company's stock valued at $75,279,000 after acquiring an additional 9,837 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BMRN shares. Wall Street Zen lowered BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research report on Saturday, October 11th. Zacks Research downgraded BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Raymond James Financial assumed coverage on BioMarin Pharmaceutical in a research note on Wednesday, September 3rd. They set an "outperform" rating and a $85.00 price objective for the company. Guggenheim upped their price objective on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.26.

BioMarin Pharmaceutical Trading Up 2.2%

NASDAQ:BMRN opened at $54.55 on Friday. BioMarin Pharmaceutical Inc. has a 1 year low of $51.56 and a 1 year high of $73.51. The stock has a market cap of $10.47 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 0.67 and a beta of 0.33. The business has a fifty day moving average of $55.35 and a 200-day moving average of $57.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 5.56.

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.

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