BioMarin Pharmaceutical Inc. $BMRN Shares Bought by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP increased its stake in BioMarin Pharmaceutical Inc. by 220.4% during the first quarter, owning a total of 8,044 shares valued at approximately $569,000.
• Other institutional investors also raised their positions, with 98.71% of BioMarin's stock currently held by hedge funds and institutional investors.
• Equity analysts have varied opinions on BioMarin, with price targets ranging from $93.17 to $113.00, reflecting a consensus rating of "Moderate Buy."

Quantbot Technologies LP grew its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 220.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,044 shares of the biotechnology company's stock after purchasing an additional 5,533 shares during the period. Quantbot Technologies LP's holdings in BioMarin Pharmaceutical were worth $569,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Korea Investment CORP lifted its stake in shares of BioMarin Pharmaceutical by 28.0% in the 1st quarter. Korea Investment CORP now owns 214,903 shares of the biotechnology company's stock valued at $15,191,000 after purchasing an additional 47,000 shares during the last quarter. Qtron Investments LLC acquired a new position in shares of BioMarin Pharmaceutical in the 1st quarter valued at $230,000. Brooklyn Investment Group lifted its stake in shares of BioMarin Pharmaceutical by 2,250.0% in the 1st quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company's stock valued at $40,000 after purchasing an additional 540 shares during the last quarter. Algert Global LLC lifted its stake in shares of BioMarin Pharmaceutical by 151.5% in the 1st quarter. Algert Global LLC now owns 105,878 shares of the biotechnology company's stock valued at $7,485,000 after purchasing an additional 63,783 shares during the last quarter. Finally, Aberdeen Group plc lifted its stake in shares of BioMarin Pharmaceutical by 8.5% in the 1st quarter. Aberdeen Group plc now owns 755,275 shares of the biotechnology company's stock valued at $53,390,000 after purchasing an additional 59,473 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BMRN shares. Wall Street Zen raised BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Zacks Research lowered BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Guggenheim increased their target price on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Wedbush reissued an "outperform" rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, August 5th. Finally, Citigroup decreased their target price 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. Eighteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $93.17.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN traded up $0.59 during mid-day trading on Friday, reaching $58.27. 1,269,740 shares of the stock were exchanged, compared to its average volume of 1,926,321. The company has a 50 day simple moving average of $57.70 and a 200-day simple moving average of $61.23. The stock has a market capitalization of $11.19 billion, a P/E ratio of 17.29, a P/E/G ratio of 0.75 and a beta of 0.18. The company has a quick ratio of 3.60, a current ratio of 5.56 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical Inc. has a 1 year low of $52.93 and a 1 year high of $93.04.

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.