Credit Industriel ET Commercial Increases Stock Holdings in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Credit Industriel ET Commercial increased its holdings in BioMarin Pharmaceutical by 14.3% during the second quarter, owning a total of 40,013 shares valued at $2.2 million.
• Several institutional investors, including Byrne Financial Freedom LLC and Tokio Marine Asset Management, have also modified their positions in BioMarin, with 98.71% of the stock owned by hedge funds and other institutions.
• Equities research analysts have generally rated BioMarin as a "Moderate Buy," with a consensus price target of $93.26 and several analysts suggesting growth potential for the company's stock.

Credit Industriel ET Commercial lifted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 14.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,013 shares of the biotechnology company's stock after buying an additional 5,000 shares during the quarter. Credit Industriel ET Commercial's holdings in BioMarin Pharmaceutical were worth $2,200,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Byrne Financial Freedom LLC lifted its holdings 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 buying an additional 161 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in 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 valued at $1,592,000 after purchasing an additional 197 shares in the last quarter. Xponance Inc. raised its stake in BioMarin Pharmaceutical by 0.6% in the first quarter. Xponance Inc. now owns 31,877 shares of the biotechnology company's stock valued at $2,253,000 after purchasing an additional 202 shares in the last quarter. Farther Finance Advisors LLC raised its stake in BioMarin Pharmaceutical by 95.9% in the first quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 211 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in BioMarin Pharmaceutical by 5.0% in the first quarter. Nisa Investment Advisors LLC now owns 4,572 shares of the biotechnology company's stock valued at $323,000 after purchasing an additional 217 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BMRN shares. Wedbush reaffirmed an "outperform" rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, August 5th. Guggenheim lifted 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. UBS Group lifted their price target on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. HC Wainwright initiated coverage on shares of BioMarin Pharmaceutical in a report on Monday, September 8th. They issued a "neutral" rating and a $60.00 price target on the stock. Finally, Wolfe Research set a $95.00 price target on shares of BioMarin Pharmaceutical and gave the company an "outperform" rating in a report on Tuesday, July 15th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $93.26.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $52.45 on Tuesday. BioMarin Pharmaceutical Inc. has a 12 month low of $51.78 and a 12 month high of $73.51. The stock has a market cap of $10.07 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 0.70 and a beta of 0.33. The company has a current ratio of 5.56, a quick ratio of 3.60 and a debt-to-equity ratio of 0.10. The company's fifty day moving average price is $56.21 and its 200-day moving average price is $57.86.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.