Rhenman & Partners Asset Management AB boosted its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Free Report) by 68.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 380,000 shares of the biotechnology company’s stock after buying an additional 155,000 shares during the quarter. BioMarin Pharmaceutical makes up 3.5% of Rhenman & Partners Asset Management AB’s holdings, making the stock its 2nd biggest position. Rhenman & Partners Asset Management AB owned about 0.20% of BioMarin Pharmaceutical worth $32,938,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. ICA Group Wealth Management LLC acquired a new position in BioMarin Pharmaceutical during the fourth quarter worth about $31,000. Acadian Asset Management LLC raised its stake in BioMarin Pharmaceutical by 395.4% during the first quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 344 shares during the period. MayTech Global Investments LLC purchased a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $36,000. WealthPLAN Partners LLC purchased a new stake in shares of BioMarin Pharmaceutical in the 1st quarter valued at approximately $37,000. Finally, Dark Forest Capital Management LP acquired a new stake in BioMarin Pharmaceutical during the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 92.78% of the company’s stock.
Analyst Ratings Changes
BMRN has been the topic of a number of recent analyst reports. Wells Fargo & Company initiated coverage on shares of BioMarin Pharmaceutical in a research report on Wednesday, November 15th. They issued an “overweight” rating and a $100.00 price objective on the stock. StockNews.com began coverage on shares of BioMarin Pharmaceutical in a research report on Thursday, October 5th. They issued a “buy” rating on the stock. UBS Group began coverage on shares of BioMarin Pharmaceutical in a research report on Monday, September 18th. They issued a “buy” rating and a $120.00 target price on the stock. Scotiabank started coverage on shares of BioMarin Pharmaceutical in a research report on Thursday, July 27th. They issued a “sector perform” rating and a $95.00 target price on the stock. Finally, Guggenheim reissued a “buy” rating and set a $110.00 price objective on shares of BioMarin Pharmaceutical in a research report on Wednesday, September 13th. Nine investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.77.
BioMarin Pharmaceutical Stock Performance
Shares of BioMarin Pharmaceutical stock traded down $0.01 on Tuesday, reaching $87.52. 338,593 shares of the company were exchanged, compared to its average volume of 1,375,409. BioMarin Pharmaceutical Inc. has a 1-year low of $76.02 and a 1-year high of $117.77. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.65 and a current ratio of 2.54. The company’s 50-day moving average is $85.66 and its two-hundred day moving average is $88.88. The firm has a market cap of $16.49 billion, a price-to-earnings ratio of 113.68, a P/E/G ratio of 1.35 and a beta of 0.37.
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.
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