BioMarin Pharmaceutical Inc. $BMRN Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

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 position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 8.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,489 shares of the biotechnology company's stock after selling 5,118 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in BioMarin Pharmaceutical were worth $3,715,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vestal Point Capital LP grew its position in shares of 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 purchasing an additional 460,000 shares during the last quarter. GAMMA Investing LLC increased 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 purchasing an additional 1,897 shares in the last quarter. Robeco Institutional Asset Management B.V. increased 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 purchasing an additional 10,687 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings 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. Finally, Janney Montgomery Scott LLC grew its holdings in shares of BioMarin Pharmaceutical by 56.6% during the first quarter. Janney Montgomery Scott LLC now owns 12,016 shares of the biotechnology company's stock valued at $849,000 after buying an additional 4,345 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company's stock.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN traded down $0.95 during midday trading on Monday, hitting $53.14. The company's stock had a trading volume of 1,829,227 shares, compared to its average volume of 1,629,647. The company has a market cap of $10.20 billion, a P/E ratio of 15.77, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The business's 50 day simple moving average is $57.93 and its 200 day simple moving average is $60.25. BioMarin Pharmaceutical Inc. has a 12-month low of $52.93 and a 12-month high of $78.00. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 5.56.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. HC Wainwright started coverage on shares of BioMarin Pharmaceutical in a research report on Monday, September 8th. They set a "neutral" rating and a $60.00 target price for the company. Wolfe Research set a $95.00 target price on BioMarin Pharmaceutical and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. raised 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. UBS Group lifted their target price on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Zacks Research lowered BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Eighteen 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.04.

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.