BioMarin Pharmaceutical Inc. $BMRN Shares Sold by Intech Investment Management LLC

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 decreased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 80.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,132 shares of the biotechnology company's stock after selling 129,603 shares during the quarter. Intech Investment Management LLC's holdings in BioMarin Pharmaceutical were worth $2,271,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Rise Advisors LLC acquired a new position in shares of BioMarin Pharmaceutical in the first quarter valued at $30,000. Farther Finance Advisors LLC boosted its position in shares of BioMarin Pharmaceutical by 95.9% in the first quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock valued at $29,000 after acquiring an additional 211 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in BioMarin Pharmaceutical by 71.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock worth $37,000 after purchasing an additional 218 shares during the period. Brooklyn Investment Group lifted its position in BioMarin Pharmaceutical by 2,250.0% during the first quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company's stock worth $40,000 after purchasing an additional 540 shares during the period. Finally, Vermillion & White Wealth Management Group LLC bought a new stake in BioMarin Pharmaceutical during the fourth quarter worth about $62,000. Institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Stock Performance

BMRN stock traded down $0.78 during trading on Friday, reaching $54.36. The stock had a trading volume of 4,993,090 shares, compared to its average volume of 1,734,296. BioMarin Pharmaceutical Inc. has a 52 week low of $52.93 and a 52 week high of $73.51. The stock's 50 day moving average is $57.60 and its two-hundred day moving average is $59.95. 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 firm has a market cap of $10.44 billion, a PE ratio of 16.13, a PEG ratio of 0.70 and a beta of 0.35.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BMRN. UBS Group increased their target price 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. Wall Street Zen upgraded BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. Wolfe Research set a $95.00 price objective on BioMarin Pharmaceutical and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Morgan Stanley decreased their target price on 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, Raymond James Financial started coverage on BioMarin Pharmaceutical in a report on Wednesday, September 3rd. They issued an "outperform" rating and a $85.00 price objective for the company. Fourteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $92.60.

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.