BioMarin Pharmaceutical Inc. $BMRN Shares Acquired by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

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

Several other hedge funds and other institutional investors have also modified their holdings of the company. Dodge & Cox lifted its stake in shares of BioMarin Pharmaceutical by 1.4% in the 1st quarter. Dodge & Cox now owns 14,955,240 shares of the biotechnology company's stock valued at $1,057,186,000 after purchasing an additional 209,005 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of BioMarin Pharmaceutical by 127.9% in the 1st quarter. AQR Capital Management LLC now owns 2,925,805 shares of the biotechnology company's stock valued at $203,987,000 after purchasing an additional 1,642,206 shares in the last quarter. Nuveen LLC acquired a new position in shares of BioMarin Pharmaceutical in the 1st quarter valued at about $184,475,000. Goldman Sachs Group Inc. lifted its stake in shares of BioMarin Pharmaceutical by 212.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company's stock valued at $112,607,000 after purchasing an additional 1,083,512 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of BioMarin Pharmaceutical by 7.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,532,314 shares of the biotechnology company's stock valued at $108,319,000 after purchasing an additional 108,806 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Up 1.4%

BMRN stock traded up $0.77 during midday trading on Thursday, hitting $55.14. 1,522,397 shares of the company's stock were exchanged, compared to its average volume of 1,728,583. 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 $73.51. The firm has a 50 day moving average price of $57.67 and a 200-day moving average price of $60.06. The stock has a market capitalization of $10.59 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35.

Analysts Set New Price Targets

BMRN has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price target on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Morgan Stanley reduced their price target on BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 22nd. Wall Street Zen raised BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 13th. Wolfe Research set a $95.00 price target on BioMarin Pharmaceutical and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, Raymond James Financial initiated coverage on BioMarin Pharmaceutical in a research report on Wednesday, September 3rd. They set an "outperform" rating and a $85.00 price target on the stock. Fourteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $92.60.

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.