IFP Advisors Inc Purchases 1,631 Shares of BioMarin Pharmaceutical Inc. $BMRN

IFP Advisors Inc lifted its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1,382.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,749 shares of the biotechnology company’s stock after buying an additional 1,631 shares during the quarter. IFP Advisors Inc’s holdings in BioMarin Pharmaceutical were worth $96,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in BMRN. Nuveen LLC bought a new stake in BioMarin Pharmaceutical during the first quarter valued at about $184,475,000. AQR Capital Management LLC boosted its position in BioMarin Pharmaceutical by 127.9% during the first quarter. AQR Capital Management LLC now owns 2,925,805 shares of the biotechnology company’s stock valued at $203,987,000 after purchasing an additional 1,642,206 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in BioMarin Pharmaceutical by 212.7% during the first 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 in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in BioMarin Pharmaceutical during the first quarter valued at about $59,125,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in BioMarin Pharmaceutical by 559.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 641,718 shares of the biotechnology company’s stock valued at $35,275,000 after purchasing an additional 544,457 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

Analyst Upgrades and Downgrades

BMRN has been the topic of a number of recent research reports. Wall Street Zen downgraded BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 11th. Weiss Ratings reiterated a “sell (d+)” rating on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 8th. Wolfe Research set a $95.00 price target on BioMarin Pharmaceutical and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Raymond James Financial assumed coverage on BioMarin Pharmaceutical in a research note on Wednesday, September 3rd. They issued an “outperform” rating and a $85.00 price target for the company. Finally, Wedbush reiterated an “outperform” rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a research note on Tuesday, August 5th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average target price of $93.26.

BioMarin Pharmaceutical Trading Up 0.6%

Shares of NASDAQ:BMRN opened at $53.29 on Monday. BioMarin Pharmaceutical Inc. has a 52-week low of $51.56 and a 52-week high of $73.51. The stock has a market cap of $10.23 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 0.67 and a beta of 0.33. The company has a quick ratio of 3.60, a current ratio of 5.56 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $55.66 and a 200-day moving average price of $57.42.

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.