Exchange Traded Concepts LLC Has $1.19 Million Stake in BioMarin Pharmaceutical Inc. $BMRN

Exchange Traded Concepts LLC boosted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 9.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,617 shares of the biotechnology company’s stock after buying an additional 1,821 shares during the quarter. Exchange Traded Concepts LLC’s holdings in BioMarin Pharmaceutical were worth $1,188,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BMRN. Quantinno Capital Management LP bought a new position in shares of BioMarin Pharmaceutical in the 4th quarter worth about $384,000. GF Fund Management CO. LTD. bought a new position in shares of BioMarin Pharmaceutical in the 4th quarter worth about $263,000. Toronto Dominion Bank raised its position in shares of BioMarin Pharmaceutical by 3.8% in the 4th quarter. Toronto Dominion Bank now owns 24,862 shares of the biotechnology company’s stock worth $1,634,000 after acquiring an additional 920 shares in the last quarter. Forum Financial Management LP bought a new position in shares of BioMarin Pharmaceutical in the 4th quarter worth about $298,000. Finally, Mackenzie Financial Corp raised its position in shares of BioMarin Pharmaceutical by 203.4% in the 4th quarter. Mackenzie Financial Corp now owns 220,661 shares of the biotechnology company’s stock worth $14,504,000 after acquiring an additional 147,927 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $53.94 on Tuesday. BioMarin Pharmaceutical Inc. has a 12 month low of $52.93 and a 12 month high of $73.51. The company has a current ratio of 5.56, a quick ratio of 3.60 and a debt-to-equity ratio of 0.10. The business’s 50 day simple moving average is $57.51 and its 200 day simple moving average is $59.66. The company has a market cap of $10.36 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 0.69 and a beta of 0.35.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BMRN. Guggenheim boosted their target price on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Raymond James Financial began coverage on BioMarin Pharmaceutical in a research report on Wednesday, September 3rd. They issued an “outperform” rating and a $85.00 target price for the company. Wall Street Zen raised BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 13th. Zacks Research lowered BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday, August 5th. Fourteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $92.60.

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.