BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Purchased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. increased its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 5.3% in the 1st quarter, HoldingsChannel reports. The firm owned 80,879 shares of the biotechnology company’s stock after buying an additional 4,094 shares during the quarter. Asset Management One Co. Ltd.’s holdings in BioMarin Pharmaceutical were worth $5,717,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Oppenheimer & Co. Inc. purchased a new position in shares of BioMarin Pharmaceutical during the 1st quarter worth $383,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of BioMarin Pharmaceutical during the 1st quarter worth $388,000. Kentucky Retirement Systems purchased a new position in shares of BioMarin Pharmaceutical during the 1st quarter worth $911,000. Covea Finance lifted its stake in shares of BioMarin Pharmaceutical by 37.9% during the 1st quarter. Covea Finance now owns 106,300 shares of the biotechnology company’s stock worth $7,514,000 after purchasing an additional 29,200 shares during the period. Finally, State of Alaska Department of Revenue lifted its stake in shares of BioMarin Pharmaceutical by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 22,335 shares of the biotechnology company’s stock worth $1,578,000 after purchasing an additional 605 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Trading Up 2.0%

NASDAQ:BMRN opened at $55.17 on Friday. The business’s 50-day moving average is $58.39 and its two-hundred day moving average is $63.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.52 and a quick ratio of 3.49. BioMarin Pharmaceutical Inc. has a 12 month low of $52.93 and a 12 month high of $94.85. The firm has a market capitalization of $10.58 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 0.76 and a beta of 0.19.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total value of $105,927.66. Following the transaction, the chief accounting officer now directly owns 14,173 shares of the company’s stock, valued at $840,600.63. This trade represents a 11.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.85% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BMRN. The Goldman Sachs Group reduced their price target on BioMarin Pharmaceutical from $124.00 to $104.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Wall Street Zen raised BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 25th. Finally, Citigroup reduced their price target on BioMarin Pharmaceutical from $82.00 to $78.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.45.

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.