QRG Capital Management Inc. Takes Position in BioMarin Pharmaceutical Inc. $BMRN

QRG Capital Management Inc. bought a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,478 shares of the biotechnology company’s stock, valued at approximately $301,000.

A number of other large investors have also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in BioMarin Pharmaceutical by 14.7% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,795 shares of the biotechnology company’s stock worth $483,000 after purchasing an additional 1,127 shares during the period. J. Safra Sarasin Holding AG boosted its stake in BioMarin Pharmaceutical by 56.3% during the 2nd quarter. J. Safra Sarasin Holding AG now owns 50,508 shares of the biotechnology company’s stock worth $2,776,000 after purchasing an additional 18,203 shares during the period. Lecap Asset Management Ltd. boosted its stake in BioMarin Pharmaceutical by 10.0% during the 2nd quarter. Lecap Asset Management Ltd. now owns 10,802 shares of the biotechnology company’s stock worth $594,000 after purchasing an additional 980 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in BioMarin Pharmaceutical by 559.8% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 641,718 shares of the biotechnology company’s stock worth $35,275,000 after purchasing an additional 544,457 shares during the period. Finally, New Wave Wealth Advisors LLC boosted its stake in BioMarin Pharmaceutical by 168.4% during the 2nd quarter. New Wave Wealth Advisors LLC now owns 11,622 shares of the biotechnology company’s stock worth $639,000 after purchasing an additional 7,292 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $52.32 on Friday. The company has a 50-day simple moving average of $56.37 and a 200-day simple moving average of $58.09. 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 capitalization of $10.05 billion, a PE ratio of 15.53, a P/E/G ratio of 0.66 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 52-week low of $51.78 and a 52-week high of $73.51.

Analysts Set New Price Targets

A number of analysts recently weighed in on BMRN shares. HC Wainwright started coverage on shares of BioMarin Pharmaceutical in a research note on Monday, September 8th. They set a “neutral” rating and a $60.00 price target for the company. Wolfe Research set a $95.00 price target on shares of BioMarin Pharmaceutical and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. UBS Group increased their price target on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Weiss Ratings restated a “sell (d+)” rating on shares of BioMarin Pharmaceutical in a research report on Wednesday. Finally, Guggenheim upped their price objective on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Thirteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $93.26.

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.