D.A. Davidson & CO. Raises Holdings in BioMarin Pharmaceutical Inc. $BMRN

D.A. Davidson & CO. grew its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 4.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,119 shares of the biotechnology company’s stock after buying an additional 331 shares during the quarter. D.A. Davidson & CO.’s holdings in BioMarin Pharmaceutical were worth $391,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Dodge & Cox lifted its stake in shares of BioMarin Pharmaceutical by 1.4% during the 1st quarter. Dodge & Cox now owns 14,955,240 shares of the biotechnology company’s stock worth $1,057,186,000 after purchasing an additional 209,005 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of BioMarin Pharmaceutical by 127.9% during the 1st quarter. AQR Capital Management LLC now owns 2,925,805 shares of the biotechnology company’s stock worth $203,987,000 after purchasing an additional 1,642,206 shares during the last quarter. Nuveen LLC purchased a new stake in shares of BioMarin Pharmaceutical during the 1st quarter worth $184,475,000. Goldman Sachs Group Inc. lifted its stake in shares of BioMarin Pharmaceutical by 212.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company’s stock worth $112,607,000 after purchasing an additional 1,083,512 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of BioMarin Pharmaceutical by 7.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,532,314 shares of the biotechnology company’s stock worth $108,319,000 after purchasing an additional 108,806 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Up 0.1%

Shares of BMRN stock opened at $51.91 on Friday. The stock’s 50-day simple moving average is $54.88 and its 200-day simple moving average is $57.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 4.83. The firm has a market capitalization of $9.97 billion, a PE ratio of 19.52, a P/E/G ratio of 0.68 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a fifty-two week low of $51.10 and a fifty-two week high of $73.51.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BMRN. Wolfe Research restated an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday. UBS Group upped their price objective on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Morgan Stanley decreased their price objective on BioMarin Pharmaceutical from $104.00 to $98.00 and set an “overweight” rating for the company in a research note on Tuesday. Stifel Nicolaus decreased their price objective on BioMarin Pharmaceutical from $91.00 to $73.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Wedbush reaffirmed an “outperform” rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday. Sixteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.70.

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.