Los Angeles Capital Management LLC Raises Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Los Angeles Capital Management LLC raised its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 266.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 141,054 shares of the biotechnology company's stock after acquiring an additional 102,525 shares during the period. Los Angeles Capital Management LLC owned approximately 0.07% of BioMarin Pharmaceutical worth $9,971,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vestal Point Capital LP grew its stake in BioMarin Pharmaceutical by 115.0% in the fourth quarter. Vestal Point Capital LP now owns 860,000 shares of the biotechnology company's stock valued at $56,528,000 after acquiring an additional 460,000 shares during the period. GAMMA Investing LLC grew its stake in BioMarin Pharmaceutical by 154.0% in the first quarter. GAMMA Investing LLC now owns 3,129 shares of the biotechnology company's stock valued at $221,000 after acquiring an additional 1,897 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in BioMarin Pharmaceutical by 12.3% in the first quarter. Robeco Institutional Asset Management B.V. now owns 97,261 shares of the biotechnology company's stock valued at $6,875,000 after acquiring an additional 10,687 shares during the period. Natixis Advisors LLC purchased a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $1,297,000. Finally, Asset Management One Co. Ltd. boosted its position in shares of BioMarin Pharmaceutical by 5.3% during the first quarter. Asset Management One Co. Ltd. now owns 80,879 shares of the biotechnology company's stock valued at $5,717,000 after buying an additional 4,094 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wall Street Zen cut BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. The Goldman Sachs Group cut their target price on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Wolfe Research set a $95.00 target price on BioMarin Pharmaceutical and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Morgan Stanley cut their target price on BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating on the stock in a research report on Tuesday. Finally, Citigroup cut their target price on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.74.

BioMarin Pharmaceutical Price Performance

BMRN traded down $0.45 during trading on Friday, reaching $59.32. 263,388 shares of the company were exchanged, compared to its average volume of 1,839,450. The company's 50-day moving average is $57.15 and its two-hundred day moving average is $62.16. The company has a market cap of $11.38 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 0.83 and a beta of 0.17. The company has a quick ratio of 3.49, a current ratio of 5.52 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical Inc. has a 12-month low of $52.93 and a 12-month high of $94.85.

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,786 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total transaction of $105,927.66. Following the sale, the chief accounting officer owned 14,173 shares of the company's stock, valued at approximately $840,600.63. This represents a 11.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.85% of the company's stock.

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.