Landscape Capital Management L.L.C. Makes New Investment in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Landscape Capital Management L.L.C. has made a new investment in BioMarin Pharmaceutical Inc., acquiring 9,894 shares valued at approximately $699,000.
• BioMarin has received high ratings from analysts, with 18 analysts rating it as a Buy and a current average price target of $93.17.
• The stock has seen activity from multiple hedge funds, leading to institutional investors owning 98.71% of BioMarin's stock.

Landscape Capital Management L.L.C. purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,894 shares of the biotechnology company's stock, valued at approximately $699,000.

Several other hedge funds also recently bought and sold shares of BMRN. Byrne Financial Freedom LLC boosted its holdings in shares of BioMarin Pharmaceutical by 4.4% during the first quarter. Byrne Financial Freedom LLC now owns 3,852 shares of the biotechnology company's stock worth $272,000 after purchasing an additional 161 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of BioMarin Pharmaceutical by 0.9% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,523 shares of the biotechnology company's stock worth $1,592,000 after purchasing an additional 197 shares during the last quarter. Xponance Inc. boosted its holdings in shares of BioMarin Pharmaceutical by 0.6% during the first quarter. Xponance Inc. now owns 31,877 shares of the biotechnology company's stock worth $2,253,000 after purchasing an additional 202 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of BioMarin Pharmaceutical by 95.9% during the first quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 211 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of BioMarin Pharmaceutical by 5.0% during the first quarter. Nisa Investment Advisors LLC now owns 4,572 shares of the biotechnology company's stock worth $323,000 after purchasing an additional 217 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BMRN shares. Wall Street Zen upgraded BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. The Goldman Sachs Group decreased their price objective on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Wolfe Research set a $95.00 price objective on BioMarin Pharmaceutical and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Morgan Stanley decreased their price objective on BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd. Finally, UBS Group lifted their target price on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Eighteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, BioMarin Pharmaceutical presently has an average rating of "Moderate Buy" and an average price target of $93.17.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock opened at $58.27 on Friday. BioMarin Pharmaceutical Inc. has a twelve month low of $52.93 and a twelve month high of $93.04. The stock has a market capitalization of $11.19 billion, a P/E ratio of 17.29, a PEG ratio of 0.75 and a beta of 0.18. 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 business's fifty day moving average price is $57.77 and its 200 day moving average price is $61.16.

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.

Want to see what other hedge funds are holding BMRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.