Resona Asset Management Co. Ltd. Increases Stock Holdings in BioMarin Pharmaceutical Inc. $BMRN

Resona Asset Management Co. Ltd. raised its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 4.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 81,059 shares of the biotechnology company’s stock after purchasing an additional 3,795 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in BioMarin Pharmaceutical were worth $4,457,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in BioMarin Pharmaceutical during the second quarter valued at approximately $25,000. Rise Advisors LLC purchased a new position in shares of BioMarin Pharmaceutical during the 1st quarter worth $30,000. Brooklyn Investment Group grew 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 valued at $40,000 after acquiring an additional 540 shares during the period. Hantz Financial Services Inc. grew 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 valued at $58,000 after acquiring an additional 874 shares during the period. Finally, Banque Transatlantique SA purchased a new position in BioMarin Pharmaceutical during the first quarter valued at $71,000. Institutional investors own 98.71% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on BMRN. Guggenheim upped 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. Tudor Pickering set a $88.00 target price on shares of BioMarin Pharmaceutical in a report on Monday, November 3rd. Sanford C. Bernstein decreased their target price on shares of BioMarin Pharmaceutical from $95.00 to $88.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Truist Financial dropped their price target on shares of BioMarin Pharmaceutical from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, October 28th. Finally, Raymond James Financial initiated coverage on shares of BioMarin Pharmaceutical in a research report on Wednesday, September 3rd. They set an “outperform” rating and a $85.00 price objective on the stock. Sixteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.91.

BioMarin Pharmaceutical Trading Down 0.7%

BMRN stock opened at $51.46 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.83 and a quick ratio of 3.60. BioMarin Pharmaceutical Inc. has a 1-year low of $50.76 and a 1-year high of $73.51. The business has a 50 day simple moving average of $54.19 and a two-hundred day simple moving average of $56.78. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 0.68 and a beta of 0.33.

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.