Acadian Asset Management LLC Has $1.70 Million Holdings in BioMarin Pharmaceutical Inc. $BMRN

Acadian Asset Management LLC lessened its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 22.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,011 shares of the biotechnology company’s stock after selling 6,889 shares during the quarter. Acadian Asset Management LLC’s holdings in BioMarin Pharmaceutical were worth $1,695,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Focus Partners Wealth boosted its holdings in BioMarin Pharmaceutical by 70.2% during the first quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock worth $835,000 after purchasing an additional 4,876 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in BioMarin Pharmaceutical in the 1st quarter valued at $552,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in BioMarin Pharmaceutical by 0.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,064,924 shares of the biotechnology company’s stock valued at $75,279,000 after buying an additional 9,837 shares during the last quarter. Empowered Funds LLC increased its stake in BioMarin Pharmaceutical by 207.4% in the 1st quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock valued at $850,000 after buying an additional 8,112 shares during the last quarter. Finally, Fred Alger Management LLC increased its stake in BioMarin Pharmaceutical by 11.3% in the 1st quarter. Fred Alger Management LLC now owns 28,803 shares of the biotechnology company’s stock valued at $2,036,000 after buying an additional 2,933 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $53.94 on Wednesday. The firm has a market capitalization of $10.36 billion, a PE ratio of 16.01, a PEG ratio of 0.68 and a beta of 0.35. The company’s 50-day moving average is $57.85 and its 200-day moving average is $60.21. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $73.51. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.60.

Analysts Set New Price Targets

BMRN has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price target 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. Wall Street Zen upgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Morgan Stanley lowered their price target 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. Guggenheim increased their price target 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, Wedbush reiterated an “outperform” rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a research note on Tuesday, August 5th. Fourteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus target price of $92.60.

BioMarin Pharmaceutical 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.