Kaufman Rossin Wealth LLC Acquires New Position in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Kaufman Rossin Wealth LLC has acquired a $461,000 position in BioMarin Pharmaceutical Inc., purchasing 6,519 shares during the first quarter.
• Approximately 98.71% of BioMarin's stock is owned by institutional investors and hedge funds, indicating strong institutional interest.
• BioMarin stock has a market capitalization of $11.13 billion and rates from analysts generally reflect a positive outlook, with a consensus rating of "Moderate Buy" and an average price target of $93.17.

Kaufman Rossin Wealth LLC purchased a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,519 shares of the biotechnology company's stock, valued at approximately $461,000.

Other large investors also recently bought and sold shares of the company. Nuveen LLC purchased a new position in BioMarin Pharmaceutical in the 1st quarter worth about $184,475,000. Soleus Capital Management L.P. purchased a new position in BioMarin Pharmaceutical in the 4th quarter worth about $65,822,000. Fuller & Thaler Asset Management Inc. purchased a new position in BioMarin Pharmaceutical in the 1st quarter worth about $59,125,000. AQR Capital Management LLC raised its position in BioMarin Pharmaceutical by 114.5% in the 4th quarter. AQR Capital Management LLC now owns 1,283,599 shares of the biotechnology company's stock worth $84,371,000 after buying an additional 685,099 shares during the last quarter. Finally, Vestal Point Capital LP raised its position in BioMarin Pharmaceutical by 115.0% in the 4th 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 during the last quarter. 98.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. boosted their target price on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Guggenheim boosted 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. 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. Wall Street Zen raised BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Finally, Wolfe Research set a $95.00 price target on shares of BioMarin Pharmaceutical and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Eighteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $93.17.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ BMRN traded up $0.51 during midday trading on Friday, hitting $58.58. 1,654,856 shares of the company's stock traded hands, compared to its average volume of 2,537,483. BioMarin Pharmaceutical Inc. has a 1 year low of $52.93 and a 1 year high of $93.04. The stock has a market capitalization of $11.25 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 0.75 and a beta of 0.18. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 5.56. The firm has a fifty day moving average of $57.49 and a 200 day moving average of $61.37.

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.