OVERSEA CHINESE BANKING Corp Ltd Makes New Investment in BioMarin Pharmaceutical Inc. $BMRN

OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,699 shares of the biotechnology company’s stock, valued at approximately $200,000.

Other hedge funds also recently added to or reduced their stakes in the company. Dodge & Cox raised its holdings in BioMarin Pharmaceutical by 1.4% in the first quarter. Dodge & Cox now owns 14,955,240 shares of the biotechnology company’s stock valued at $1,057,186,000 after acquiring an additional 209,005 shares in the last quarter. AQR Capital Management LLC raised its holdings in BioMarin Pharmaceutical by 127.9% in 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 acquiring an additional 1,642,206 shares in the last quarter. Nuveen LLC acquired a new stake in BioMarin Pharmaceutical in the first quarter valued at approximately $184,475,000. Goldman Sachs Group Inc. raised its holdings in 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 valued at $112,607,000 after acquiring an additional 1,083,512 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in BioMarin Pharmaceutical by 7.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,532,314 shares of the biotechnology company’s stock valued at $108,319,000 after acquiring an additional 108,806 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $53.49 on Wednesday. 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 firm has a market cap of $10.27 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 0.66 and a beta of 0.33. The company’s 50 day simple moving average is $55.12 and its 200-day simple moving average is $57.20. BioMarin Pharmaceutical Inc. has a 12-month low of $51.56 and a 12-month high of $73.51.

Analysts Set New Price Targets

Several brokerages recently weighed in on BMRN. JPMorgan Chase & Co. raised their target price on shares of BioMarin Pharmaceutical from $116.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. UBS Group raised their target price on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Barclays reduced their target price on shares of BioMarin Pharmaceutical from $86.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday. Wedbush reissued an “outperform” rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $66.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday. Seventeen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.91.

About BioMarin Pharmaceutical

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.