Tealwood Asset Management Inc. Increases Holdings in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Tealwood Asset Management Inc. increased its holdings in BioMarin Pharmaceutical Inc. by 37.4%, acquiring an additional 5,874 shares in the second quarter.
• Several institutional investors have modified their positions, including Goldman Sachs Group, which raised its stake by 212.7%.
• Analysts have updated their price targets for BioMarin, with Guggenheim raising its target from $101.00 to $106.00 and 14 analysts rating the stock as a Buy.

Tealwood Asset Management Inc. lifted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 37.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,563 shares of the biotechnology company's stock after purchasing an additional 5,874 shares during the quarter. Tealwood Asset Management Inc.'s holdings in BioMarin Pharmaceutical were worth $1,185,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of BMRN. Nuveen LLC purchased a new position in shares of BioMarin Pharmaceutical in the first quarter worth about $184,475,000. AQR Capital Management LLC raised its stake 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 worth $203,987,000 after purchasing an additional 1,642,206 shares during the last quarter. Goldman Sachs Group Inc. raised its stake 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 worth $112,607,000 after purchasing an additional 1,083,512 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in shares of BioMarin Pharmaceutical in the first quarter worth about $59,125,000. Finally, Parkman Healthcare Partners LLC purchased a new position in shares of BioMarin Pharmaceutical in the first quarter worth about $19,599,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN opened at $54.02 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.60. The business's 50 day moving average price is $57.12 and its 200-day moving average price is $59.07. The firm has a market capitalization of $10.37 billion, a PE ratio of 16.03, a P/E/G ratio of 0.69 and a beta of 0.35. BioMarin Pharmaceutical Inc. has a 1 year low of $52.47 and a 1 year high of $73.51.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Guggenheim raised their price objective 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 reaffirmed an "outperform" rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday, August 5th. Raymond James Financial started coverage on BioMarin Pharmaceutical in a report on Wednesday, September 3rd. They set an "outperform" rating and a $85.00 target price on the stock. Wall Street Zen raised BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. Finally, UBS Group raised their target price on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Fourteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $92.60.

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.

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