Parkman Healthcare Partners LLC Buys Shares of 277,252 BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Parkman Healthcare Partners LLC has made a new investment of approximately $19.60 million in BioMarin Pharmaceutical Inc. by acquiring 277,252 shares, which constitutes about 2.3% of their portfolio.
• BioMarin Pharmaceutical has seen increased interest from institutional investors, with 98.71% of its stock owned by them, including significant stakes from firms like Nuveen LLC and AQR Capital Management LLC.
• Research analysts have mixed views on BioMarin's stock, with various price target changes and ratings, leading to a consensus rating of "Moderate Buy" and a price target of $93.43.

Parkman Healthcare Partners LLC bought a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 277,252 shares of the biotechnology company's stock, valued at approximately $19,599,000. BioMarin Pharmaceutical makes up approximately 2.3% of Parkman Healthcare Partners LLC's portfolio, making the stock its 12th largest position. Parkman Healthcare Partners LLC owned about 0.14% of BioMarin Pharmaceutical at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BMRN. Mercer Global Advisors Inc. ADV lifted its position in shares of BioMarin Pharmaceutical by 121.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 18,103 shares of the biotechnology company's stock worth $1,190,000 after purchasing an additional 9,915 shares in the last quarter. Captrust Financial Advisors increased its stake in BioMarin Pharmaceutical by 31.3% during the 4th quarter. Captrust Financial Advisors now owns 14,307 shares of the biotechnology company's stock worth $940,000 after buying an additional 3,407 shares during the period. Focus Partners Wealth acquired a new stake in BioMarin Pharmaceutical during the 4th quarter worth approximately $480,000. Hudson Bay Capital Management LP lifted its holdings in BioMarin Pharmaceutical by 4.3% during the 4th quarter. Hudson Bay Capital Management LP now owns 460,000 shares of the biotechnology company's stock worth $30,236,000 after buying an additional 18,800 shares in the last quarter. Finally, LRI Investments LLC boosted its position in BioMarin Pharmaceutical by 856.9% in the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company's stock valued at $32,000 after buying an additional 437 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock traded down $1.19 on Wednesday, hitting $54.50. The stock had a trading volume of 2,152,243 shares, compared to its average volume of 1,658,605. The company's 50 day moving average price is $58.11 and its 200 day moving average price is $60.71. The stock has a market cap of $10.46 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 0.71 and a beta of 0.35. The company has a current ratio of 5.56, a quick ratio of 3.60 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical Inc. has a 52-week low of $52.93 and a 52-week high of $85.00.

Analysts Set New Price Targets

A number of research firms recently issued reports on BMRN. Wall Street Zen lowered BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Raymond James Financial initiated coverage on shares of BioMarin Pharmaceutical in a report on Wednesday, September 3rd. They set an "outperform" rating and a $85.00 price target for the company. Zacks Research downgraded shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. 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, UBS Group upped their price objective on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Eighteen 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 currently has an average rating of "Moderate Buy" and a consensus price target of $92.04.

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.