Twin Tree Management LP Makes New Investment in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Twin Tree Management LP acquired a new stake in BioMarin Pharmaceutical Inc. by purchasing 51,280 shares for approximately $3,625,000 in the first quarter.
• BioMarin Pharmaceutical's stock currently has a market cap of $11.19 billion and has been rated with a consensus "Moderate Buy" from analysts, with an average price target of $93.17.
• The company's shares opened at $58.27 and have a 52-week trading range between $52.93 and $93.04.

Twin Tree Management LP bought a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 51,280 shares of the biotechnology company's stock, valued at approximately $3,625,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BMRN. Nuveen LLC acquired a new position in BioMarin Pharmaceutical in the 1st quarter worth about $184,475,000. Soleus Capital Management L.P. acquired a new position in BioMarin Pharmaceutical in the 4th quarter worth about $65,822,000. Fuller & Thaler Asset Management Inc. acquired a new position in BioMarin Pharmaceutical during the 1st quarter worth about $59,125,000. Vestal Point Capital LP lifted its holdings in BioMarin Pharmaceutical by 115.0% during the 4th quarter. Vestal Point Capital LP now owns 860,000 shares of the biotechnology company's stock worth $56,528,000 after buying an additional 460,000 shares during the period. Finally, Northern Trust Corp lifted its holdings in BioMarin Pharmaceutical by 16.2% during the 4th quarter. Northern Trust Corp now owns 1,725,039 shares of the biotechnology company's stock worth $113,387,000 after buying an additional 240,681 shares during the period. Institutional investors and hedge funds own 98.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BMRN. Wall Street Zen downgraded BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research report on Friday. Morgan Stanley lowered their price objective on BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating for the company in a research report on Tuesday, July 22nd. Wolfe Research set a $95.00 price objective on BioMarin Pharmaceutical and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Raymond James Financial began coverage on BioMarin Pharmaceutical in a research report on Wednesday. They set an "outperform" rating and a $85.00 price objective for the company. Finally, Guggenheim raised their price objective on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Eighteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $93.43.

BioMarin Pharmaceutical Trading Up 1.8%

BMRN stock traded up $1.02 during mid-day trading on Friday, reaching $57.77. The company's stock had a trading volume of 1,464,546 shares, compared to its average volume of 1,778,015. The company has a market cap of $11.09 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 0.72 and a beta of 0.35. The business's 50 day moving average price is $58.14 and its 200 day moving average price is $60.96. The company has a current ratio of 5.56, a quick ratio of 3.60 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical Inc. has a 12 month low of $52.93 and a 12 month high of $86.04.

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.