Plato Investment Management Ltd Boosts Holdings in BioMarin Pharmaceutical Inc. $BMRN

Plato Investment Management Ltd increased its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 59.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,817 shares of the biotechnology company’s stock after purchasing an additional 10,005 shares during the period. Plato Investment Management Ltd’s holdings in BioMarin Pharmaceutical were worth $1,441,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BMRN. Smartleaf Asset Management LLC raised its position in BioMarin Pharmaceutical by 92.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 360 shares during the period. Alps Advisors Inc. increased its holdings in shares of BioMarin Pharmaceutical by 66.0% in the third quarter. Alps Advisors Inc. now owns 8,435 shares of the biotechnology company’s stock worth $457,000 after buying an additional 3,354 shares during the period. Savant Capital LLC lifted its stake in shares of BioMarin Pharmaceutical by 54.4% in the 3rd quarter. Savant Capital LLC now owns 82,827 shares of the biotechnology company’s stock valued at $4,486,000 after acquiring an additional 29,174 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in BioMarin Pharmaceutical by 47.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,555 shares of the biotechnology company’s stock valued at $84,000 after acquiring an additional 499 shares during the period. Finally, WCM Investment Management LLC grew its position in BioMarin Pharmaceutical by 3.4% during the 3rd quarter. WCM Investment Management LLC now owns 9,625 shares of the biotechnology company’s stock worth $520,000 after acquiring an additional 320 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $58.13 on Monday. The company has a 50 day simple moving average of $56.71 and a two-hundred day simple moving average of $55.92. BioMarin Pharmaceutical Inc. has a fifty-two week low of $50.76 and a fifty-two week high of $73.51. The company has a market capitalization of $11.17 billion, a price-to-earnings ratio of 21.85, a P/E/G ratio of 0.64 and a beta of 0.26. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.10 and a current ratio of 4.83.

Wall Street Analysts Forecast Growth

BMRN has been the subject of several recent research reports. Wedbush reiterated an “outperform” rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, October 28th. Wolfe Research reaffirmed an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Wall Street Zen lowered shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Tudor Pickering set a $88.00 price target on shares of BioMarin Pharmaceutical in a report on Monday, November 3rd. Finally, Morgan Stanley decreased their price objective on shares of BioMarin Pharmaceutical from $104.00 to $98.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 28th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus price target of $88.29.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.