UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Purchases 9,837 Shares of BioMarin Pharmaceutical Inc. $BMRN

Key Points

• UBS Asset Management increased its holdings in BioMarin Pharmaceutical Inc. by 0.9%, acquiring an additional 9,837 shares during the first quarter, bringing their total to 1,064,924 shares valued at approximately $75.3 million.
• A significant majority, 98.71% of BioMarin's stock, is currently owned by institutional investors, indicating strong institutional interest in the company.
• Wall Street analysts have a consensus target price of $92.04 for BioMarin, with 18 analysts rating the stock as a Buy and 8 as a Hold.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,064,924 shares of the biotechnology company's stock after purchasing an additional 9,837 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.56% of BioMarin Pharmaceutical worth $75,279,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its stake in shares of BioMarin Pharmaceutical by 207.4% in the first quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company's stock worth $850,000 after acquiring an additional 8,112 shares during the last quarter. Fred Alger Management LLC increased its stake in shares of BioMarin Pharmaceutical by 11.3% in the first quarter. Fred Alger Management LLC now owns 28,803 shares of the biotechnology company's stock worth $2,036,000 after acquiring an additional 2,933 shares during the last quarter. Goldman Sachs Group Inc. increased 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 acquiring an additional 1,083,512 shares during the last quarter. Teza Capital Management LLC acquired a new position in shares of BioMarin Pharmaceutical in the first quarter worth $723,000. Finally, Rise Advisors LLC acquired a new position in shares of BioMarin Pharmaceutical in the first quarter worth $30,000. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

BMRN stock traded down $0.95 during mid-day trading on Monday, reaching $53.14. 1,829,227 shares of the stock traded hands, compared to its average volume of 1,629,647. 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 52 week low of $52.93 and a 52 week high of $78.00. The business has a 50-day moving average of $57.93 and a two-hundred day moving average of $60.25. The firm has a market capitalization of $10.20 billion, a PE ratio of 15.77, a P/E/G ratio of 0.69 and a beta of 0.35.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Guggenheim upped their price target on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Morgan Stanley dropped their price target on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. upped their price target on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. HC Wainwright started coverage on shares of BioMarin Pharmaceutical in a report on Monday, September 8th. They issued a "neutral" rating and a $60.00 price objective for the company. Finally, UBS Group upped their price objective 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. Eighteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.04.

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.