Kodai Capital Management LP Invests $4 Million in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Kodai Capital Management LP has acquired a new stake in BioMarin Pharmaceutical Inc., purchasing 56,540 shares valued at approximately $3,997,000 in the first quarter.
• BioMarin's stock has experienced varying price targets from several analysts, with Goldman Sachs lowering its price objective from $124.00 to $104.00, while UBS raised it from $113.00 to $114.00.
• The company's market cap stands at $11.19 billion, and it holds a consensus rating of "Moderate Buy" with an average target price of $93.17.

Kodai Capital Management LP bought a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 56,540 shares of the biotechnology company's stock, valued at approximately $3,997,000.

Other large investors also recently added to or reduced their stakes in the company. Vestal Point Capital LP boosted 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 valued at $56,528,000 after buying an additional 460,000 shares during the period. GAMMA Investing LLC raised its holdings 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 valued at $221,000 after purchasing an additional 1,897 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of 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 purchasing an additional 10,687 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of BioMarin Pharmaceutical by 5.3% in 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 in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings 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 valued at $849,000 after purchasing an additional 4,345 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BMRN has been the subject of several recent research reports. UBS Group boosted their price target on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. boosted their price target on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Raymond James Financial started coverage on shares of BioMarin Pharmaceutical in a report on Wednesday. They issued an "outperform" rating and a $85.00 price target for the company. Zacks Research lowered shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Finally, Wall Street Zen upgraded shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Eighteen 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.com, BioMarin Pharmaceutical currently has an average rating of "Moderate Buy" and an average target price of $93.43.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock traded down $2.28 during mid-day trading on Thursday, reaching $56.70. 747,017 shares of the company traded hands, compared to its average volume of 1,914,688. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.60. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $90.01. The company has a market capitalization of $10.89 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 0.74 and a beta of 0.35. The firm's fifty day moving average is $58.04 and its two-hundred day moving average is $61.06.

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.