Cubist Systematic Strategies LLC Invests $11.69 Million in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Cubist Systematic Strategies LLC has made a new investment in BioMarin Pharmaceutical Inc., purchasing 165,408 shares valued at approximately $11.69 million.
• Institutional investors now own 98.71% of BioMarin Pharmaceutical's stock, indicating strong interest from major financial entities.
• Analysts have mixed ratings on BioMarin, with the consensus being a "Moderate Buy" and a price target averaging $93.17.

Cubist Systematic Strategies LLC purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 165,408 shares of the biotechnology company's stock, valued at approximately $11,693,000. Cubist Systematic Strategies LLC owned approximately 0.09% of BioMarin Pharmaceutical at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Byrne Financial Freedom LLC grew its position in BioMarin Pharmaceutical by 4.4% during 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 position in BioMarin Pharmaceutical by 0.9% during 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 position in BioMarin Pharmaceutical by 0.6% during 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 position in BioMarin Pharmaceutical by 95.9% during 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 position in BioMarin Pharmaceutical by 5.0% during 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. Institutional investors and hedge funds own 98.71% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on BMRN shares. Zacks Research downgraded shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Wolfe Research set a $95.00 price objective on shares of BioMarin Pharmaceutical and gave the company an "outperform" rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. boosted their price objective on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Morgan Stanley lowered their price objective on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating for the company in a research report on Tuesday, July 22nd. Finally, Guggenheim boosted their price objective on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Eighteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical currently has an average rating of "Moderate Buy" and a consensus price target of $93.43.

BioMarin Pharmaceutical Price Performance

Shares of BMRN traded up $1.02 during trading hours on Friday, reaching $57.77. The stock had a trading volume of 1,464,546 shares, compared to its average volume of 1,675,077. BioMarin Pharmaceutical Inc. has a 12 month low of $52.93 and a 12 month high of $86.04. The stock has a market capitalization of $11.09 billion, a PE ratio of 17.14, a PEG ratio of 0.74 and a beta of 0.35. 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's 50-day moving average is $58.14 and its two-hundred day moving average is $60.87.

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.