J. Safra Sarasin Holding AG Boosts Stake in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• J. Safra Sarasin Holding AG increased its stake in BioMarin Pharmaceutical by 56.3% during the 2nd quarter, owning a total of 50,508 shares valued at approximately $2.8 million.
• Various institutional investors, including Goldman Sachs and AQR Capital Management, have significantly increased their holdings in BioMarin, indicating strong interest in the company with 98.71% of its stock owned by institutional investors.
• Analysts have set optimistic price targets for BioMarin Pharmaceutical, with an average target price of $92.60 and multiple firms issuing "outperform" ratings, suggesting positive market sentiment.

J. Safra Sarasin Holding AG boosted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 56.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,508 shares of the biotechnology company's stock after purchasing an additional 18,203 shares during the period. J. Safra Sarasin Holding AG's holdings in BioMarin Pharmaceutical were worth $2,776,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Nuveen LLC bought a new position in shares of BioMarin Pharmaceutical in the first quarter worth about $184,475,000. AQR Capital Management LLC increased its holdings in BioMarin Pharmaceutical by 127.9% in the 1st quarter. AQR Capital Management LLC now owns 2,925,805 shares of the biotechnology company's stock worth $203,987,000 after acquiring an additional 1,642,206 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in BioMarin Pharmaceutical by 212.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company's stock worth $112,607,000 after acquiring an additional 1,083,512 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in BioMarin Pharmaceutical during the 1st quarter worth approximately $59,125,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in BioMarin Pharmaceutical by 559.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 641,718 shares of the biotechnology company's stock valued at $35,275,000 after purchasing an additional 544,457 shares in the last quarter. Institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Price Performance

NASDAQ:BMRN opened at $55.57 on Friday. The firm has a market capitalization of $10.67 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 0.70 and a beta of 0.33. 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 business has a 50 day simple moving average of $56.84 and a 200-day simple moving average of $58.89. BioMarin Pharmaceutical Inc. has a 1 year low of $52.47 and a 1 year high of $73.51.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BMRN. Raymond James Financial initiated coverage on shares of BioMarin Pharmaceutical in a research note on Wednesday, September 3rd. They issued an "outperform" rating and a $85.00 price objective for the company. Wolfe Research set a $95.00 price target on BioMarin Pharmaceutical and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Wall Street Zen raised BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. JPMorgan Chase & Co. upped 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, Guggenheim lifted their target price on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of "Moderate Buy" and an average target price of $92.60.

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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