Resona Asset Management Co. Ltd. Purchases 3,795 Shares of BioMarin Pharmaceutical Inc. $BMRN

Resona Asset Management Co. Ltd. raised its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 4.9% during the 2nd quarter, Holdings Channel reports. The fund owned 81,059 shares of the biotechnology company’s stock after purchasing an additional 3,795 shares during the period. Resona Asset Management Co. Ltd.’s holdings in BioMarin Pharmaceutical were worth $4,457,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BMRN. Goldman Sachs Group Inc. lifted its position 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 worth $112,607,000 after buying an additional 1,083,512 shares during the last quarter. Covea Finance increased its position in BioMarin Pharmaceutical by 27.3% during the second quarter. Covea Finance now owns 135,300 shares of the biotechnology company’s stock valued at $7,437,000 after acquiring an additional 29,000 shares during the last quarter. 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 valued at $75,279,000 after acquiring an additional 9,837 shares during the period. Tealwood Asset Management Inc. raised its stake in shares of BioMarin Pharmaceutical by 37.4% in the second quarter. Tealwood Asset Management Inc. now owns 21,563 shares of the biotechnology company’s stock valued at $1,185,000 after acquiring an additional 5,874 shares during the period. Finally, Perpetual Ltd bought a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter worth about $768,000. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Stock Down 0.7%

Shares of NASDAQ:BMRN opened at $51.46 on Monday. BioMarin Pharmaceutical Inc. has a 52-week low of $50.76 and a 52-week high of $73.51. The stock has a market cap of $9.89 billion, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 0.68 and a beta of 0.33. The business’s 50 day moving average is $54.19 and its 200 day moving average is $56.78. 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 Analyst Weigh In

Several brokerages recently commented on BMRN. Tudor Pickering set a $88.00 price target on shares of BioMarin Pharmaceutical in a report on Monday, November 3rd. Wolfe Research restated an “outperform” rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, October 28th. Raymond James Financial started coverage on BioMarin Pharmaceutical in a report on Wednesday, September 3rd. They issued an “outperform” rating and a $85.00 price target on the stock. UBS Group raised their price target on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Finally, Barclays dropped their price objective on BioMarin Pharmaceutical from $86.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, October 28th. Sixteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average 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.