Assetmark Inc. Purchases 5,829 Shares of BioMarin Pharmaceutical Inc. $BMRN

Assetmark Inc. raised its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 83.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,836 shares of the biotechnology company’s stock after purchasing an additional 5,829 shares during the period. Assetmark Inc.’s holdings in BioMarin Pharmaceutical were worth $706,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Nuveen LLC acquired a new position in BioMarin Pharmaceutical during the 1st quarter valued at approximately $184,475,000. AQR Capital Management LLC raised its position in BioMarin Pharmaceutical by 127.9% during the first quarter. AQR Capital Management LLC now owns 2,925,805 shares of the biotechnology company’s stock valued at $203,987,000 after acquiring an additional 1,642,206 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings 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 valued at $112,607,000 after purchasing an additional 1,083,512 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in BioMarin Pharmaceutical in the first quarter valued at $59,125,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in BioMarin Pharmaceutical by 559.8% in 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. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Down 1.8%

BioMarin Pharmaceutical stock opened at $51.84 on Friday. The firm has a market capitalization of $9.96 billion, a P/E ratio of 19.49, a P/E/G ratio of 0.68 and a beta of 0.33. The company has a current ratio of 4.83, a quick ratio of 3.60 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical Inc. has a twelve month low of $51.00 and a twelve month high of $73.51. The stock’s fifty day simple moving average is $54.33 and its 200-day simple moving average is $56.90.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BMRN. Royal Bank Of Canada restated a “sector perform” rating and set a $66.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, October 28th. Zacks Research downgraded BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Truist Financial reduced their target price on shares of BioMarin Pharmaceutical from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, October 28th. Barclays decreased their price target on BioMarin Pharmaceutical from $86.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 28th. Finally, UBS Group upped their price objective on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Sixteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.91.

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.