7,572 Shares in BioMarin Pharmaceutical Inc. $BMRN Bought by iA Global Asset Management Inc.

iA Global Asset Management Inc. purchased a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,572 shares of the biotechnology company’s stock, valued at approximately $416,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $25,000. Rise Advisors LLC acquired a new position in shares of BioMarin Pharmaceutical during the 1st quarter worth about $30,000. Brooklyn Investment Group raised its position in shares of BioMarin Pharmaceutical by 2,250.0% during the 1st quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 540 shares during the last quarter. Hantz Financial Services Inc. raised its position in shares of BioMarin Pharmaceutical by 480.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,056 shares of the biotechnology company’s stock worth $58,000 after purchasing an additional 874 shares during the last quarter. Finally, Banque Transatlantique SA acquired a new position in shares of BioMarin Pharmaceutical during the 1st quarter worth about $71,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $52.52 on Wednesday. BioMarin Pharmaceutical Inc. has a 52-week low of $51.00 and a 52-week high of $73.51. The firm has a market capitalization of $10.09 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 0.68 and a beta of 0.33. The company has a fifty day simple moving average of $54.56 and a 200-day simple moving average of $56.97. The company has a quick ratio of 3.60, a current ratio of 4.83 and a debt-to-equity ratio of 0.10.

Wall Street Analysts Forecast Growth

BMRN has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 8th. Royal Bank Of Canada restated a “sector perform” rating and set a $66.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, October 28th. Wall Street Zen lowered shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Saturday. UBS Group upped their target price on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Finally, Barclays dropped their target price on shares of BioMarin Pharmaceutical from $86.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, October 28th. Seventeen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.45.

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.