Asset Management One Co. Ltd. Boosts Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Asset Management One Co. Ltd. raised its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 76,785 shares of the biotechnology company’s stock after acquiring an additional 283 shares during the period. Asset Management One Co. Ltd.’s holdings in BioMarin Pharmaceutical were worth $5,136,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in shares of BioMarin Pharmaceutical in the third quarter worth about $28,000. TD Private Client Wealth LLC raised its position in shares of BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 186 shares during the period. Meeder Asset Management Inc. raised its position in shares of BioMarin Pharmaceutical by 920.8% in the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 663 shares during the period. True Wealth Design LLC raised its position in shares of BioMarin Pharmaceutical by 13,400.0% in the third quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock worth $57,000 after acquiring an additional 804 shares during the period. Finally, Blue Trust Inc. raised its position in shares of BioMarin Pharmaceutical by 504.9% in the third quarter. Blue Trust Inc. now owns 859 shares of the biotechnology company’s stock worth $60,000 after acquiring an additional 717 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $64.86 on Wednesday. The firm has a 50 day simple moving average of $64.82 and a 200-day simple moving average of $71.24. BioMarin Pharmaceutical Inc. has a 1-year low of $60.63 and a 1-year high of $94.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. The stock has a market cap of $12.36 billion, a price-to-earnings ratio of 38.84, a price-to-earnings-growth ratio of 0.57 and a beta of 0.28.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BMRN. JPMorgan Chase & Co. decreased their price objective on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Royal Bank of Canada restated a “sector perform” rating and set a $80.00 price target on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. Wedbush upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Monday, November 4th. Canaccord Genuity Group reduced their price target on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Finally, Wolfe Research assumed coverage on shares of BioMarin Pharmaceutical in a research report on Friday, November 15th. They set an “outperform” rating and a $95.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus price target of $94.20.

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.