PGGM Investments Has $28.47 Million Holdings in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• PGGM Investments increased its holdings in BioMarin Pharmaceutical Inc. by 48.2%, owning 517,991 shares valued at $28.47 million as of the end of the second quarter.
• Approximately 98.71% of BioMarin's stock is held by institutional investors and hedge funds, highlighting strong institutional interest in the biotechnology firm.
• Wall Street analysts give BioMarin a consensus rating of "Moderate Buy" with an average target price of $92.60, indicating positive expectations for the company's stock performance.

PGGM Investments grew its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 48.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 517,991 shares of the biotechnology company's stock after acquiring an additional 168,400 shares during the period. PGGM Investments owned 0.27% of BioMarin Pharmaceutical worth $28,474,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Dodge & Cox lifted its position in BioMarin Pharmaceutical by 1.4% during the first quarter. Dodge & Cox now owns 14,955,240 shares of the biotechnology company's stock worth $1,057,186,000 after acquiring an additional 209,005 shares during the last quarter. AQR Capital Management LLC raised its position in shares of BioMarin Pharmaceutical by 127.9% in the first quarter. AQR Capital Management LLC now owns 2,925,805 shares of the biotechnology company's stock valued at $203,987,000 after buying an additional 1,642,206 shares in the last quarter. Nuveen LLC acquired a new stake in shares of BioMarin Pharmaceutical in the first quarter valued at approximately $184,475,000. Goldman Sachs Group Inc. raised its position in shares of BioMarin Pharmaceutical by 212.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company's stock valued at $112,607,000 after buying an additional 1,083,512 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of BioMarin Pharmaceutical by 7.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,532,314 shares of the biotechnology company's stock valued at $108,319,000 after buying an additional 108,806 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BMRN has been the subject of a number of analyst reports. Wolfe Research set a $95.00 price target on shares of BioMarin Pharmaceutical and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Raymond James Financial initiated coverage on shares of BioMarin Pharmaceutical in a research report on Wednesday, September 3rd. They issued an "outperform" rating and a $85.00 price target for the company. JPMorgan Chase & Co. lifted their price target 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. Wall Street Zen upgraded shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 13th. Finally, Morgan Stanley dropped their price target 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. Fourteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $92.60.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN opened at $54.16 on Wednesday. The company's 50 day simple moving average is $57.02 and its 200 day simple moving average is $59.03. The stock has a market capitalization of $10.40 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.60. BioMarin Pharmaceutical Inc. has a 1 year low of $52.47 and a 1 year high of $73.51.

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.

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