25,088 Shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Bought by Neo Ivy Capital Management

Key Points

• Neo Ivy Capital Management has acquired a new position in BioMarin Pharmaceutical, purchasing 25,088 shares valued at approximately $1,773,000.
• Several institutional investors have increased their holdings in BioMarin, with Assetmark Inc. boosting its position by 41.5% during the first quarter.
• Analysts have mixed ratings on the stock, with the target price varying between $78.00 and $113.00, reflecting diverse investor expectations.

Neo Ivy Capital Management bought a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 25,088 shares of the biotechnology company's stock, valued at approximately $1,773,000.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of BioMarin Pharmaceutical in the 4th quarter worth $234,645,000. Capital Research Global Investors lifted its holdings in shares of BioMarin Pharmaceutical by 23.8% in the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company's stock worth $853,944,000 after purchasing an additional 2,496,817 shares in the last quarter. Soleus Capital Management L.P. bought a new position in shares of BioMarin Pharmaceutical in the 4th quarter worth $65,822,000. Dodge & Cox lifted its holdings in shares of BioMarin Pharmaceutical by 6.1% in the 4th quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company's stock worth $969,270,000 after purchasing an additional 847,917 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in BioMarin Pharmaceutical by 114.5% during the 4th quarter. AQR Capital Management LLC now owns 1,283,599 shares of the biotechnology company's stock valued at $84,371,000 after acquiring an additional 685,099 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BMRN. Morgan Stanley reduced their target price on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating for the company in a research note on Tuesday, July 22nd. Wolfe Research set a $95.00 price target on shares of BioMarin Pharmaceutical and gave the stock an "outperform" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. boosted their price target on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. The Goldman Sachs Group cut their price target on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Finally, Citigroup lowered their price objective on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $93.74.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.85% of the company's stock.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock traded up $0.14 during trading on Tuesday, hitting $58.28. 425,740 shares of the company's stock traded hands, compared to its average volume of 1,831,530. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.52 and a quick ratio of 3.49. BioMarin Pharmaceutical Inc. has a 1 year low of $52.93 and a 1 year high of $94.85. The stock has a market capitalization of $11.18 billion, a P/E ratio of 21.69, a PEG ratio of 0.81 and a beta of 0.17. The business has a 50-day simple moving average of $57.12 and a 200-day simple moving average of $61.94.

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.