Natixis Advisors LLC Boosts Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Key Points

• Natixis Advisors LLC has increased its stake in BioMarin Pharmaceutical by 68.3%, owning 33,226 shares worth approximately $2.35 million after acquiring an additional 13,488 shares in the first quarter.
• Multiple institutional investors have also significantly boosted their positions, with Vestal Point Capital increasing theirs by 115% to own 860,000 shares valued at about $56.5 million.
• Analyst sentiments are generally favorable, with the consensus rating for BioMarin Pharmaceutical being a "Moderate Buy" and a target price averaging $93.17, indicating potential for growth.

Natixis Advisors LLC raised its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 68.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,226 shares of the biotechnology company's stock after acquiring an additional 13,488 shares during the period. Natixis Advisors LLC's holdings in BioMarin Pharmaceutical were worth $2,349,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vestal Point Capital LP grew its position 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 worth $56,528,000 after buying an additional 460,000 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of BioMarin Pharmaceutical by 154.0% in the first quarter. GAMMA Investing LLC now owns 3,129 shares of the biotechnology company's stock worth $221,000 after acquiring an additional 1,897 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in 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 worth $6,875,000 after purchasing an additional 10,687 shares during the last quarter. Asset Management One Co. Ltd. raised its position in 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 acquiring an additional 4,094 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake 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 during the last quarter. Institutional investors own 98.71% of the company's stock.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total value of $105,927.66. Following the transaction, the chief accounting officer directly owned 14,173 shares of the company's stock, valued at approximately $840,600.63. This trade represents a 11.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.85% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wolfe Research set a $95.00 target price on shares of BioMarin Pharmaceutical and gave the company an "outperform" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. boosted their price target on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. The Goldman Sachs Group reduced their price target on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Wall Street Zen upgraded BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Finally, UBS Group upped 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. Six investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.17.

BioMarin Pharmaceutical Trading Down 3.6%

Shares of BMRN stock traded down $2.13 during trading hours on Friday, hitting $57.33. 3,523,307 shares of the company were exchanged, compared to its average volume of 2,308,645. The company has a 50 day simple moving average of $57.29 and a two-hundred day simple moving average of $61.73. The firm has a market cap of $11.01 billion, a P/E ratio of 17.01, a P/E/G ratio of 0.79 and a beta of 0.18. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.49 and a current ratio of 5.56. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $94.85.

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.