Lecap Asset Management Ltd. Raises Holdings in BioMarin Pharmaceutical Inc. $BMRN

Lecap Asset Management Ltd. raised its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 10.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,802 shares of the biotechnology company’s stock after purchasing an additional 980 shares during the quarter. Lecap Asset Management Ltd.’s holdings in BioMarin Pharmaceutical were worth $594,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Robeco Institutional Asset Management B.V. increased its position in shares of 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 last quarter. New Wave Wealth Advisors LLC boosted its stake in BioMarin Pharmaceutical by 168.4% during the second quarter. New Wave Wealth Advisors LLC now owns 11,622 shares of the biotechnology company’s stock worth $639,000 after buying an additional 7,292 shares during the period. PGGM Investments increased its position in shares of BioMarin Pharmaceutical by 48.2% during the second quarter. PGGM Investments now owns 517,991 shares of the biotechnology company’s stock valued at $28,474,000 after acquiring an additional 168,400 shares during the last quarter. Poinciana Advisors Group LLC purchased a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at approximately $221,000. Finally, Tealwood Asset Management Inc. raised its stake in shares of BioMarin Pharmaceutical by 37.4% in the 2nd quarter. Tealwood Asset Management Inc. now owns 21,563 shares of the biotechnology company’s stock valued at $1,185,000 after acquiring an additional 5,874 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $55.57 on Friday. The business’s 50-day moving average is $56.84 and its two-hundred day moving average is $58.89. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.60. The firm has a market capitalization of $10.67 billion, a P/E ratio of 16.49, a P/E/G ratio of 0.70 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 1 year low of $52.47 and a 1 year high of $73.51.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, August 5th. Morgan Stanley lowered their price target on BioMarin Pharmaceutical from $97.00 to $96.00 and set an “overweight” rating for the company in a research report on Tuesday, July 22nd. Raymond James Financial initiated coverage on BioMarin Pharmaceutical in a research note on Wednesday, September 3rd. They issued an “outperform” rating and a $85.00 price objective for the company. Wolfe Research set a $95.00 target price on BioMarin Pharmaceutical and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Finally, Zacks Research downgraded BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Fourteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.60.

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.