Graham Capital Management L.P. Takes $1.34 Million Position in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Graham Capital Management L.P. has acquired a new position in BioMarin Pharmaceutical Inc. worth approximately $1.34 million, purchasing 19,017 shares of the biotechnology company.
• Analysts have expressed positive sentiments about BioMarin, with Guggenheim raising its target price to $106.00, and the stock receiving a consensus rating of "Moderate Buy" from 18 research analysts.
• The stock of BioMarin Pharmaceutical has recently seen a 1.4% increase, with a current market capitalization of $11.35 billion and a price-to-earnings ratio of 17.53.

Graham Capital Management L.P. purchased a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 19,017 shares of the biotechnology company's stock, valued at approximately $1,344,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BMRN. Nuveen LLC acquired a new stake in shares of BioMarin Pharmaceutical in the first quarter valued at about $184,475,000. Soleus Capital Management L.P. acquired a new stake in BioMarin Pharmaceutical during the fourth quarter worth about $65,822,000. Fuller & Thaler Asset Management Inc. acquired a new stake in BioMarin Pharmaceutical during the first quarter worth about $59,125,000. Vestal Point Capital LP grew its position in BioMarin Pharmaceutical by 115.0% during the fourth 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 in the last quarter. Finally, Voloridge Investment Management LLC grew its position in BioMarin Pharmaceutical by 461.2% during the fourth quarter. Voloridge Investment Management LLC now owns 271,298 shares of the biotechnology company's stock worth $17,832,000 after buying an additional 222,958 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Up 1.4%

NASDAQ BMRN opened at $59.09 on Wednesday. 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 stock's 50 day moving average is $57.94 and its two-hundred day moving average is $61.07. The company has a market capitalization of $11.35 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 0.74 and a beta of 0.35. BioMarin Pharmaceutical Inc. has a 1-year low of $52.93 and a 1-year high of $92.81.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BMRN shares. Guggenheim lifted their target price on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Wedbush reissued an "outperform" rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday, August 5th. Wolfe Research set a $95.00 target price on BioMarin Pharmaceutical and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Zacks Research downgraded BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Finally, Morgan Stanley decreased their target price on BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 22nd. Eighteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.17.

BioMarin Pharmaceutical Company 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.

Want to see what other hedge funds are holding BMRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report).

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.