BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 19.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,055,087 shares of the biotechnology company's stock after acquiring an additional 174,634 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.55% of BioMarin Pharmaceutical worth $69,351,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of BioMarin Pharmaceutical by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company's stock valued at $1,273,334,000 after acquiring an additional 93,531 shares during the last quarter. Dodge & Cox increased its holdings in BioMarin Pharmaceutical by 6.1% in the 4th quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company's stock valued at $969,270,000 after purchasing an additional 847,917 shares during the last quarter. Capital Research Global Investors increased its holdings in BioMarin Pharmaceutical by 23.8% in the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company's stock valued at $853,944,000 after purchasing an additional 2,496,817 shares during the last quarter. Norges Bank purchased a new stake in BioMarin Pharmaceutical in the fourth quarter valued at approximately $234,645,000. Finally, Geode Capital Management LLC lifted its stake in BioMarin Pharmaceutical by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 3,288,778 shares of the biotechnology company's stock worth $215,784,000 after purchasing an additional 28,728 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BMRN. UBS Group increased their target price on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Bank of America raised their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Cantor Fitzgerald reiterated an "overweight" rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Oppenheimer raised BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price objective on the stock in a research report on Monday, February 24th. Finally, Scotiabank lifted their price objective on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a research note on Thursday, February 20th. Six analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of "Moderate Buy" and a consensus target price of $93.45.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN traded down $0.75 during mid-day trading on Friday, reaching $57.80. The stock had a trading volume of 447,677 shares, compared to its average volume of 1,870,121. BioMarin Pharmaceutical Inc. has a twelve month low of $52.93 and a twelve month high of $94.85. The business has a 50 day simple moving average of $61.35 and a 200 day simple moving average of $64.56. The firm has a market capitalization of $11.09 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 0.61 and a beta of 0.27. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33.

Insiders Place Their Bets

In other news, CAO Erin Burkhart sold 1,786 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total transaction of $105,927.66. Following the sale, the chief accounting officer now owns 14,173 shares of the company's stock, valued at $840,600.63. The trade was a 11.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 3,354 shares of company stock worth $216,269. 0.85% of the stock is owned by company insiders.

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.