AlphaQuest LLC Increases Stake in BioMarin Pharmaceutical Inc. $BMRN

AlphaQuest LLC increased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 145.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 25,261 shares of the biotechnology company’s stock after acquiring an additional 14,950 shares during the quarter. AlphaQuest LLC’s holdings in BioMarin Pharmaceutical were worth $1,786,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in BioMarin Pharmaceutical in the 1st quarter worth about $184,475,000. Northern Trust Corp grew its holdings in BioMarin Pharmaceutical by 16.2% during the 4th quarter. Northern Trust Corp now owns 1,725,039 shares of the biotechnology company’s stock valued at $113,387,000 after buying an additional 240,681 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in 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 valued at $108,319,000 after buying an additional 108,806 shares in the last quarter. AQR Capital Management LLC grew its holdings in BioMarin Pharmaceutical by 114.5% during the 4th quarter. AQR Capital Management LLC now owns 1,283,599 shares of the biotechnology company’s stock valued at $84,371,000 after buying an additional 685,099 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in BioMarin Pharmaceutical by 19.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,055,087 shares of the biotechnology company’s stock valued at $69,351,000 after buying an additional 174,634 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Wall Street Analysts Forecast Growth

BMRN has been the subject of a number of recent analyst reports. Morgan Stanley reduced their target price on BioMarin Pharmaceutical from $97.00 to $96.00 and set an “overweight” rating for the company in a report on Tuesday, July 22nd. Guggenheim lifted their target price on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Citigroup reduced their target price on BioMarin Pharmaceutical from $82.00 to $78.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Wedbush reaffirmed an “outperform” rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday, August 5th. Finally, Wolfe Research set a $95.00 target price on BioMarin Pharmaceutical and gave the company an “outperform” rating in a report on Tuesday, July 15th. Eighteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus target price of $93.17.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $58.58 on Friday. The company has a market cap of $11.25 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 0.74 and a beta of 0.18. The company has a current ratio of 5.56, a quick ratio of 3.60 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average price of $57.49 and a 200-day moving average price of $61.39. BioMarin Pharmaceutical Inc. has a 12-month low of $52.93 and a 12-month high of $93.04.

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.