MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 5,118 Shares of BioMarin Pharmaceutical Inc. $BMRN

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in BioMarin Pharmaceutical Inc. by 8.9% during the first quarter, owning 52,489 shares valued at approximately $3.72 million after selling 5,118 shares.
• Institutional investors and hedge funds own a significant portion of BioMarin, with 98.71% of the company's stock held by such entities, indicating strong market interest.
• Analysts have a consensus rating of "Moderate Buy" for BioMarin Pharmaceutical, with a target price averaging $92.04 based on several recent upgrades, including one from UBS Group raising their target to $114.00.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 8.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,489 shares of the biotechnology company's stock after selling 5,118 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in BioMarin Pharmaceutical were worth $3,715,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in shares of BioMarin Pharmaceutical by 95.9% during the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock worth $29,000 after buying an additional 211 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of BioMarin Pharmaceutical by 71.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock worth $37,000 after buying an additional 218 shares during the last quarter. Brooklyn Investment Group boosted its stake in shares of BioMarin Pharmaceutical by 2,250.0% during the 1st quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company's stock worth $40,000 after buying an additional 540 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth about $62,000. Finally, Banque Transatlantique SA acquired a new position in shares of BioMarin Pharmaceutical during the 1st quarter worth about $71,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BMRN. UBS Group increased their price objective on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Raymond James Financial initiated coverage on shares of BioMarin Pharmaceutical in a research note on Wednesday, September 3rd. They set an "outperform" rating and a $85.00 price objective for the company. Guggenheim upped their target price on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. HC Wainwright initiated coverage on shares of BioMarin Pharmaceutical in a report on Monday, September 8th. They issued a "neutral" rating and a $60.00 target price on the stock. Finally, Zacks Research cut shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Fourteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $92.60.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock traded up $0.77 during trading hours on Thursday, hitting $55.14. The company had a trading volume of 1,522,397 shares, compared to its average volume of 1,728,583. BioMarin Pharmaceutical Inc. has a one year low of $52.93 and a one year high of $73.51. The firm has a 50-day moving average of $57.67 and a 200 day moving average of $60.06. The firm has a market cap of $10.59 billion, a PE ratio of 16.36, a PEG ratio of 0.69 and a beta of 0.35. 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 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.