28,736 Shares in BioMarin Pharmaceutical Inc. $BMRN Bought by Cinctive Capital Management LP

Key Points

• Cinctive Capital Management LP has acquired 28,736 shares of BioMarin Pharmaceutical Inc., valued at approximately $2,031,000, signaling significant investment interest during the 1st quarter.
• BioMarin's stock has recently seen a decrease of 3.8%, reflecting a current market price of $56.75, with a 12-month range between $52.93 and $90.01.
• Analysts have mixed views on BioMarin, with target prices set between $95.00 and $113.00, and an overall rating of "Moderate Buy" based on their consensus.

Cinctive Capital Management LP purchased a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 28,736 shares of the biotechnology company's stock, valued at approximately $2,031,000.

A number of other large investors also recently modified their holdings of BMRN. Nuveen LLC bought a new position in shares of BioMarin Pharmaceutical in the 1st quarter worth about $184,475,000. AQR Capital Management LLC lifted its position in shares of BioMarin Pharmaceutical by 127.9% in the 1st quarter. AQR Capital Management LLC now owns 2,925,805 shares of the biotechnology company's stock worth $203,987,000 after buying an additional 1,642,206 shares during the last quarter. Soleus Capital Management L.P. bought a new position in shares of BioMarin Pharmaceutical in the 4th quarter worth about $65,822,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of BioMarin Pharmaceutical in the 1st quarter worth about $59,125,000. Finally, Vestal Point Capital LP lifted its position in shares of BioMarin Pharmaceutical by 115.0% in 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. 98.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BMRN has been the topic of a number of analyst reports. Wolfe Research set a $95.00 price objective on shares of BioMarin Pharmaceutical and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Wall Street Zen cut shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. JPMorgan Chase & Co. increased their price objective on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Raymond James Financial initiated coverage on shares of BioMarin Pharmaceutical in a report on Wednesday, September 3rd. They issued an "outperform" rating and a $85.00 price objective on the stock. Finally, Zacks Research cut shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Eighteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $92.04.

BioMarin Pharmaceutical Stock Down 1.6%

Shares of BMRN stock traded down $0.88 during trading on Wednesday, hitting $54.81. 611,599 shares of the company were exchanged, compared to its average volume of 1,911,271. The firm has a market capitalization of $10.52 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 0.72 and a beta of 0.35. The business's 50-day simple moving average is $58.16 and its 200 day simple moving average is $60.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 5.56. BioMarin Pharmaceutical Inc. has a twelve month low of $52.93 and a twelve month high of $85.00.

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.