BioMarin Pharmaceutical Inc. $BMRN Shares Sold by PDT Partners LLC

PDT Partners LLC lowered its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 14.4% in the 1st quarter, Holdings Channel reports. The fund owned 75,876 shares of the biotechnology company’s stock after selling 12,787 shares during the period. PDT Partners LLC’s holdings in BioMarin Pharmaceutical were worth $5,364,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of BMRN. Nuveen LLC bought a new position in BioMarin Pharmaceutical in the 1st quarter worth about $184,475,000. Soleus Capital Management L.P. acquired a new position in shares of BioMarin Pharmaceutical during the fourth quarter worth approximately $65,822,000. Fuller & Thaler Asset Management Inc. bought a new position in BioMarin Pharmaceutical in the 1st quarter worth approximately $59,125,000. Vestal Point Capital LP grew its holdings in BioMarin Pharmaceutical by 115.0% in the 4th quarter. Vestal Point Capital LP now owns 860,000 shares of the biotechnology company’s stock worth $56,528,000 after buying an additional 460,000 shares in the last quarter. Finally, Northern Trust Corp increased its position in BioMarin Pharmaceutical by 16.2% in the 4th quarter. Northern Trust Corp now owns 1,725,039 shares of the biotechnology company’s stock valued at $113,387,000 after acquiring an additional 240,681 shares during the period. 98.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BMRN has been the subject of a number of analyst reports. Guggenheim boosted their price target on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Morgan Stanley cut their price objective on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 22nd. Wolfe Research set a $95.00 target price on shares of BioMarin Pharmaceutical and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Wall Street Zen upgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Finally, Zacks Research lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Eighteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.17.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $58.27 on Monday. BioMarin Pharmaceutical Inc. has a twelve month low of $52.93 and a twelve month high of $93.04. 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 company has a market capitalization of $11.19 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 0.74 and a beta of 0.35. The firm has a 50-day moving average of $57.77 and a two-hundred day moving average of $61.13.

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.