Ieq Capital LLC Buys 104,289 Shares of BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Ieq Capital LLC significantly increased its holdings in BioMarin Pharmaceutical by 173%, acquiring an additional 104,289 shares during the 1st quarter, bringing its total shares to 164,576 worth approximately $11.63 million.
• Major investments from others, including Vestal Point Capital, which raised its stake by 115%, show increasing institutional interest in BioMarin, with 98.71% of stock being owned by institutional investors.
• Wall Street analysts remain optimistic with a consensus rating of "Moderate Buy" for BioMarin, and price targets have been set as high as $114, reflecting confidence in the company's stock potential.

Ieq Capital LLC lifted its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 173.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,576 shares of the biotechnology company's stock after buying an additional 104,289 shares during the period. Ieq Capital LLC owned about 0.09% of BioMarin Pharmaceutical worth $11,634,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vestal Point Capital LP increased its stake in shares of 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 purchasing an additional 460,000 shares during the period. GAMMA Investing LLC raised its position in shares of BioMarin Pharmaceutical by 154.0% in the 1st quarter. GAMMA Investing LLC now owns 3,129 shares of the biotechnology company's stock worth $221,000 after acquiring an additional 1,897 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in BioMarin Pharmaceutical by 12.3% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 97,261 shares of the biotechnology company's stock valued at $6,875,000 after buying an additional 10,687 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in BioMarin Pharmaceutical by 5.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 80,879 shares of the biotechnology company's stock valued at $5,717,000 after purchasing an additional 4,094 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of BioMarin Pharmaceutical by 56.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,016 shares of the biotechnology company's stock worth $849,000 after buying an additional 4,345 shares during the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $58.66 on Thursday. BioMarin Pharmaceutical Inc. has a 52-week low of $52.93 and a 52-week high of $93.04. The company's 50 day moving average is $57.65 and its two-hundred day moving average is $61.27. The company has a quick ratio of 3.60, a current ratio of 5.56 and a debt-to-equity ratio of 0.10. The firm has a market cap of $11.26 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 0.74 and a beta of 0.18.

Wall Street Analyst Weigh In

BMRN has been the topic of several research analyst reports. UBS Group upped their price target on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Wedbush reaffirmed an "outperform" rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday, August 5th. Zacks Research downgraded shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Guggenheim increased their price target on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Wall Street Zen raised shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Eighteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.17.

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.

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