Mirae Asset Global Investments Co. Ltd. Increases Holdings in BioMarin Pharmaceutical Inc. $BMRN

Mirae Asset Global Investments Co. Ltd. lifted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 14.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 8,795 shares of the biotechnology company’s stock after purchasing an additional 1,127 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in BioMarin Pharmaceutical were worth $483,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in shares of BioMarin Pharmaceutical by 212.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company’s stock worth $112,607,000 after purchasing an additional 1,083,512 shares during the last quarter. Covea Finance raised its stake in shares of BioMarin Pharmaceutical by 27.3% in the second quarter. Covea Finance now owns 135,300 shares of the biotechnology company’s stock worth $7,437,000 after purchasing an additional 29,000 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of BioMarin Pharmaceutical by 154.0% in the first quarter. GAMMA Investing LLC now owns 3,129 shares of the biotechnology company’s stock worth $221,000 after purchasing an additional 1,897 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of BioMarin Pharmaceutical by 12.3% in the first quarter. Robeco Institutional Asset Management B.V. now owns 97,261 shares of the biotechnology company’s stock worth $6,875,000 after purchasing an additional 10,687 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of BioMarin Pharmaceutical by 0.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,064,924 shares of the biotechnology company’s stock worth $75,279,000 after purchasing an additional 9,837 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Down 2.8%

BioMarin Pharmaceutical stock opened at $52.32 on Friday. The stock has a market capitalization of $10.05 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 0.68 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 12 month low of $51.78 and a 12 month high of $73.51. The business has a 50 day simple moving average of $56.37 and a 200-day simple moving average of $58.19. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.60.

Analyst Ratings Changes

Several research analysts recently weighed in on BMRN shares. JPMorgan Chase & Co. lifted their price target on BioMarin Pharmaceutical from $116.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday. Raymond James Financial started coverage on BioMarin Pharmaceutical in a research report on Wednesday, September 3rd. They set an “outperform” rating and a $85.00 price target for the company. Wall Street Zen cut BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research report on Saturday. HC Wainwright started coverage on BioMarin Pharmaceutical in a research report on Monday, September 8th. They set a “neutral” rating and a $60.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of BioMarin Pharmaceutical in a research report on Wednesday. Thirteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average target price of $93.26.

BioMarin Pharmaceutical Company 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.