Perpetual Ltd acquired a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund acquired 13,980 shares of the biotechnology company's stock, valued at approximately $768,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in BMRN. Quantinno Capital Management LP bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at $384,000. Toronto Dominion Bank raised its stake in shares of BioMarin Pharmaceutical by 3.8% during the 4th quarter. Toronto Dominion Bank now owns 24,862 shares of the biotechnology company's stock valued at $1,634,000 after purchasing an additional 920 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of BioMarin Pharmaceutical by 19.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,055,087 shares of the biotechnology company's stock valued at $69,351,000 after purchasing an additional 174,634 shares during the period. GF Fund Management CO. LTD. bought a new position in BioMarin Pharmaceutical in the 4th quarter worth about $263,000. Finally, Forum Financial Management LP bought a new position in BioMarin Pharmaceutical in the 4th quarter worth about $298,000. 98.71% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. HC Wainwright assumed coverage on BioMarin Pharmaceutical in a research note on Monday, September 8th. They issued a "neutral" rating and a $60.00 target price on the stock. 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. Wedbush restated an "outperform" rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, August 5th. UBS Group upped their target price on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, Raymond James Financial started coverage on BioMarin Pharmaceutical in a research report on Wednesday, September 3rd. They set an "outperform" rating and a $85.00 price objective on the stock. Fourteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $92.60.
View Our Latest Stock Report on BioMarin Pharmaceutical
BioMarin Pharmaceutical Trading Down 1.5%
BMRN stock traded down $0.80 during trading on Tuesday, hitting $53.14. 840,499 shares of the company traded hands, compared to its average volume of 1,936,297. BioMarin Pharmaceutical Inc. has a 1 year low of $52.93 and a 1 year high of $73.51. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 5.56. The company has a 50-day moving average of $57.51 and a 200-day moving average of $59.66. The firm has a market capitalization of $10.20 billion, a PE ratio of 15.76, a P/E/G ratio of 0.69 and a beta of 0.35.
BioMarin Pharmaceutical Profile
(
Free Report)
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.
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