Vident Advisory LLC Takes Position in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Vident Advisory LLC made a new investment of $427,000 in BioMarin Pharmaceutical Inc. by acquiring 6,046 shares of the company in the first quarter.
• Institutional investors collectively own 98.71% of BioMarin's stock, highlighting strong backing from major financial entities.
• Wall Street analysts have given BioMarin a consensus rating of "Moderate Buy" with a consensus price target of $93.43.

Vident Advisory LLC purchased a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 6,046 shares of the biotechnology company's stock, valued at approximately $427,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position in shares of BioMarin Pharmaceutical by 95.9% in the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock valued at $29,000 after acquiring an additional 211 shares during the period. LRI Investments LLC boosted its holdings in shares of BioMarin Pharmaceutical by 856.9% during the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company's stock worth $32,000 after buying an additional 437 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of BioMarin Pharmaceutical by 71.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock worth $37,000 after buying an additional 218 shares during the period. Brooklyn Investment Group boosted its holdings in shares of BioMarin Pharmaceutical by 2,250.0% during the 1st quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company's stock worth $40,000 after buying an additional 540 shares during the period. Finally, Vermillion & White Wealth Management Group LLC bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth about $62,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN traded up $0.93 during trading hours on Thursday, reaching $55.43. 969,162 shares of the company were exchanged, compared to its average volume of 1,914,795. BioMarin Pharmaceutical Inc. has a 1 year low of $52.93 and a 1 year high of $85.00. The business's 50 day simple moving average is $58.11 and its 200-day simple moving average is $60.71. The company has a quick ratio of 3.60, a current ratio of 5.56 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $10.64 billion, a P/E ratio of 16.46, a P/E/G ratio of 0.71 and a beta of 0.35.

Analysts Set New Price Targets

A number of research firms have issued reports on BMRN. Wedbush reissued an "outperform" rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, August 5th. Morgan Stanley cut their target price 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. Zacks Research lowered shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Guggenheim raised their price objective on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, HC Wainwright began coverage on shares of BioMarin Pharmaceutical in a research note on Monday. They issued a "neutral" rating and a $60.00 price objective on the stock. Eighteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.04.

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.