Intech Investment Management LLC Sells 129,603 Shares of BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Intech Investment Management LLC reduced its stake in BioMarin Pharmaceutical by 80.1%, owning 32,132 shares valued at $2.27 million by the end of the first quarter.
• Several other hedge funds, including Byrne Financial Freedom LLC and Tokio Marine Asset Management Co., have increased their stakes in BioMarin Pharmaceutical during the same period, indicating strong institutional interest.
• Analysts maintain a generally positive outlook for BioMarin, with 18 analysts rating it as a Buy and a consensus target price of $92.04, while its stock currently trades around $53.14.

Intech Investment Management LLC lessened its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 80.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,132 shares of the biotechnology company's stock after selling 129,603 shares during the period. Intech Investment Management LLC's holdings in BioMarin Pharmaceutical were worth $2,271,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vestal Point Capital LP grew its holdings 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 last quarter. Goldman Sachs Group Inc. grew its holdings in shares of BioMarin Pharmaceutical by 212.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company's stock worth $112,607,000 after purchasing an additional 1,083,512 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of BioMarin Pharmaceutical by 154.0% during the first quarter. GAMMA Investing LLC now owns 3,129 shares of the biotechnology company's stock worth $221,000 after purchasing an additional 1,897 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of BioMarin Pharmaceutical by 12.3% during the first quarter. Robeco Institutional Asset Management B.V. now owns 97,261 shares of the biotechnology company's stock worth $6,875,000 after purchasing an additional 10,687 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of BioMarin Pharmaceutical by 0.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,064,924 shares of the biotechnology company's stock worth $75,279,000 after purchasing an additional 9,837 shares during the last quarter. Institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN traded down $0.60 during midday trading on Friday, reaching $54.55. 974,429 shares of the company's stock traded hands, compared to its average volume of 1,919,886. The company has a market cap of $10.47 billion, a price-to-earnings ratio of 16.21, a P/E/G ratio of 0.69 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. BioMarin Pharmaceutical Inc. has a one year low of $52.93 and a one year high of $73.51. The stock has a 50 day moving average of $57.67 and a 200 day moving average of $60.06.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BMRN shares. Morgan Stanley dropped their target price on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 22nd. Wall Street Zen raised BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 13th. Wedbush reaffirmed 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 company an "outperform" rating in a research report on Tuesday, July 15th. Finally, HC Wainwright initiated coverage on BioMarin Pharmaceutical in a report on Monday, September 8th. They issued a "neutral" rating and a $60.00 price objective for the company. Fourteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.60.

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.