Fox Run Management L.L.C. Has $1.63 Million Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Key Points

• Fox Run Management L.L.C. increased its stake in BioMarin Pharmaceutical Inc. by 181.3% in the first quarter, acquiring 14,893 shares to reach a total of 23,109 shares valued at $1,634,000.
• Wall Street analysts are optimistic about BioMarin, with most ratings falling between "buy" and "outperform", and an average price target of $93.17.
• BioMarin's stock currently trades around $58.30, with a market cap of $11.19 billion and significant institutional ownership at 98.71% of total shares.

Fox Run Management L.L.C. boosted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 181.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 23,109 shares of the biotechnology company's stock after purchasing an additional 14,893 shares during the period. Fox Run Management L.L.C.'s holdings in BioMarin Pharmaceutical were worth $1,634,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Capital Research Global Investors boosted its holdings in BioMarin Pharmaceutical by 23.8% during the fourth quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company's stock worth $853,944,000 after purchasing an additional 2,496,817 shares during the last quarter. Nuveen LLC bought a new stake in BioMarin Pharmaceutical during the first quarter valued at approximately $184,475,000. Northern Trust Corp boosted its position in shares of BioMarin Pharmaceutical by 16.2% during the fourth quarter. Northern Trust Corp now owns 1,725,039 shares of the biotechnology company's stock worth $113,387,000 after acquiring an additional 240,681 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in BioMarin Pharmaceutical by 7.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,532,314 shares of the biotechnology company's stock valued at $108,319,000 after purchasing an additional 108,806 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in BioMarin Pharmaceutical by 114.5% in the 4th quarter. AQR Capital Management LLC now owns 1,283,599 shares of the biotechnology company's stock worth $84,371,000 after purchasing an additional 685,099 shares in the last quarter. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock traded down $0.46 during mid-day trading on Friday, reaching $57.54. The company had a trading volume of 2,525,461 shares, compared to its average volume of 2,488,204. 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's 50-day simple moving average is $57.40 and its 200-day simple moving average is $61.56. BioMarin Pharmaceutical Inc. has a 1 year low of $52.93 and a 1 year high of $94.85. The company has a market capitalization of $11.05 billion, a P/E ratio of 17.07, a P/E/G ratio of 0.74 and a beta of 0.18.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BMRN shares. Citigroup dropped their price objective 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. Guggenheim lifted their price target on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. The Goldman Sachs Group lowered their price target on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a report on Monday, May 5th. JPMorgan Chase & Co. increased their price objective on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Finally, Wedbush reissued an "outperform" rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, August 5th. Six analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of "Moderate Buy" and an average price target of $93.17.

Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,786 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total value of $105,927.66. Following the transaction, the chief accounting officer owned 14,173 shares of the company's stock, valued at approximately $840,600.63. This trade represents a 11.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.85% of the company's stock.

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.