Intech Investment Management LLC Has $2.27 Million Stake in BioMarin Pharmaceutical Inc. $BMRN

Intech Investment Management LLC trimmed its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 80.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,132 shares of the biotechnology company’s stock after selling 129,603 shares during the quarter. Intech Investment Management LLC’s holdings in BioMarin Pharmaceutical were worth $2,271,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Byrne Financial Freedom LLC raised its stake in shares of BioMarin Pharmaceutical by 4.4% in the first quarter. Byrne Financial Freedom LLC now owns 3,852 shares of the biotechnology company’s stock valued at $272,000 after acquiring an additional 161 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of BioMarin Pharmaceutical by 0.9% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,523 shares of the biotechnology company’s stock valued at $1,592,000 after acquiring an additional 197 shares during the last quarter. Xponance Inc. raised its stake in shares of BioMarin Pharmaceutical by 0.6% in the first quarter. Xponance Inc. now owns 31,877 shares of the biotechnology company’s stock valued at $2,253,000 after acquiring an additional 202 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of BioMarin Pharmaceutical by 95.9% in the first 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 last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of BioMarin Pharmaceutical by 5.0% in the first quarter. Nisa Investment Advisors LLC now owns 4,572 shares of the biotechnology company’s stock valued at $323,000 after acquiring an additional 217 shares during the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BMRN shares. Wolfe Research set a $95.00 target price on shares of BioMarin Pharmaceutical and gave the company an “outperform” rating in a research note on Tuesday, July 15th. HC Wainwright started coverage on shares of BioMarin Pharmaceutical in a research note on Monday, September 8th. They issued a “neutral” rating and a $60.00 target price for the company. Zacks Research cut shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. lifted their target price on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. Finally, Guggenheim upped their price objective on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Eighteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.04.

BioMarin Pharmaceutical Stock Performance

BMRN stock opened at $53.14 on Tuesday. The business’s fifty day moving average is $57.93 and its 200-day moving average is $60.25. 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 company has a market cap of $10.20 billion, a P/E ratio of 15.77, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. BioMarin Pharmaceutical Inc. has a twelve month low of $52.93 and a twelve month high of $78.00.

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.