Teza Capital Management LLC Acquires New Position in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Teza Capital Management LLC has acquired a new stake in BioMarin Pharmaceutical Inc., purchasing 10,224 shares valued at approximately $723,000 during the first quarter.
• Analyst ratings for BioMarin have varied, with JPMorgan Chase increasing its price target to $113 and maintaining an "overweight" rating, while Zacks Research downgraded the stock from "strong-buy" to "hold."
• Currently, 98.71% of BioMarin's stock is owned by institutional investors and hedge funds, highlighting significant institutional interest in the company.

Teza Capital Management LLC acquired a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,224 shares of the biotechnology company's stock, valued at approximately $723,000.

Several other large investors have also bought and sold shares of BMRN. Farther Finance Advisors LLC lifted its holdings in BioMarin Pharmaceutical by 95.9% in the first quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock valued at $29,000 after buying an additional 211 shares during the period. Rise Advisors LLC acquired a new position in BioMarin Pharmaceutical in the first quarter valued at approximately $30,000. LRI Investments LLC lifted its holdings in BioMarin Pharmaceutical by 856.9% in the fourth 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. MassMutual Private Wealth & Trust FSB increased its stake in shares of BioMarin Pharmaceutical by 71.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock valued at $37,000 after acquiring an additional 218 shares during the last quarter. Finally, Brooklyn Investment Group increased 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 acquiring an additional 540 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on BMRN. JPMorgan Chase & Co. upped their price target on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Zacks Research cut BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Raymond James Financial initiated coverage on shares of BioMarin Pharmaceutical in a report on Wednesday. They issued an "outperform" rating and a $85.00 target price on the stock. UBS Group increased their target price on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Guggenheim increased their target price on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Eighteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.43.

BioMarin Pharmaceutical Trading Up 1.8%

BMRN opened at $57.77 on Friday. BioMarin Pharmaceutical Inc. has a twelve month low of $52.93 and a twelve month high of $86.04. 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 firm's fifty day moving average is $58.14 and its two-hundred day moving average is $60.92. The firm has a market cap of $11.09 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 0.74 and a beta of 0.35.

About BioMarin Pharmaceutical

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.