OMERS ADMINISTRATION Corp Acquires 22,172 Shares of BioMarin Pharmaceutical Inc. $BMRN

Key Points

• OMERS ADMINISTRATION Corp significantly increased its stake in BioMarin Pharmaceutical Inc. by 280.8%, bringing its total holdings to 30,067 shares valued at $2.13 million.
• In addition to OMERS, several other large investors, including Farther Finance Advisors LLC and Brooklyn Investment Group, also boosted their holdings in BioMarin, with 98.71% of the stock now owned by institutional investors and hedge funds.
• Analysts have a generally positive outlook on BioMarin, with a consensus rating of "Moderate Buy" and an average target price of $93.17, reflecting expectations for future growth.

OMERS ADMINISTRATION Corp lifted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 280.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,067 shares of the biotechnology company's stock after buying an additional 22,172 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in BioMarin Pharmaceutical were worth $2,125,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BMRN. Nuveen LLC bought a new position in shares of BioMarin Pharmaceutical in the first quarter valued at $184,475,000. Soleus Capital Management L.P. bought a new position in BioMarin Pharmaceutical during the fourth quarter worth $65,822,000. Fuller & Thaler Asset Management Inc. bought a new position in BioMarin Pharmaceutical during the first quarter worth $59,125,000. Vestal Point Capital LP boosted its position in BioMarin Pharmaceutical by 115.0% during the fourth quarter. Vestal Point Capital LP now owns 860,000 shares of the biotechnology company's stock worth $56,528,000 after purchasing an additional 460,000 shares during the period. Finally, Northern Trust Corp boosted its position in BioMarin Pharmaceutical by 16.2% during the fourth quarter. Northern Trust Corp now owns 1,725,039 shares of the biotechnology company's stock worth $113,387,000 after purchasing an additional 240,681 shares during the period. 98.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

BMRN has been the subject of a number of research analyst reports. Morgan Stanley reduced their price objective on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating for the company in a research report on Tuesday, July 22nd. Zacks Research cut shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Wedbush reaffirmed an "outperform" rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, August 5th. Guggenheim lifted their price objective on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Eighteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, BioMarin Pharmaceutical presently has an average rating of "Moderate Buy" and a consensus target price of $93.43.

BioMarin Pharmaceutical Price Performance

NASDAQ BMRN traded down $2.46 during trading on Thursday, hitting $56.52. 1,120,405 shares of the company's stock were exchanged, compared to its average volume of 1,916,795. The company has a current ratio of 5.56, a quick ratio of 3.60 and a debt-to-equity ratio of 0.10. The company has a market cap of $10.85 billion, a PE ratio of 16.77, a P/E/G ratio of 0.74 and a beta of 0.35. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $90.01. The stock's 50 day moving average price is $58.04 and its two-hundred day moving average price is $61.06.

BioMarin Pharmaceutical 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.