M&G PLC Purchases Shares of 198,255 BioMarin Pharmaceutical Inc. $BMRN

M&G PLC purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 2nd quarter, Holdings Channel reports. The fund purchased 198,255 shares of the biotechnology company’s stock, valued at approximately $10,904,000.

A number of other hedge funds and other institutional investors have also modified their holdings of BMRN. Nuveen LLC bought a new position in BioMarin Pharmaceutical in the first quarter valued at approximately $184,475,000. AQR Capital Management LLC increased 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. Goldman Sachs Group Inc. raised its holdings in shares of BioMarin Pharmaceutical by 212.7% in 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 during the period. Fuller & Thaler Asset Management Inc. acquired a new position in BioMarin Pharmaceutical during the first quarter worth approximately $59,125,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings 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 acquiring an additional 544,457 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Up 0.7%

BMRN stock opened at $55.32 on Thursday. BioMarin Pharmaceutical Inc. has a 52 week low of $50.76 and a 52 week high of $73.51. The business has a 50-day simple moving average of $53.93 and a 200 day simple moving average of $56.64. The company has a quick ratio of 3.60, a current ratio of 4.83 and a debt-to-equity ratio of 0.10. The company has a market cap of $10.63 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 0.68 and a beta of 0.33.

Analysts Set New Price Targets

BMRN has been the subject of several research reports. Sanford C. Bernstein cut their price target on BioMarin Pharmaceutical from $95.00 to $88.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Morgan Stanley dropped 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. Wedbush reaffirmed an “outperform” rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday, October 28th. Raymond James Financial assumed coverage on shares of BioMarin Pharmaceutical in a report on Wednesday, September 3rd. They issued an “outperform” rating and a $85.00 price target on the stock. Finally, UBS Group raised their price objective on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Sixteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.91.

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.