BioMarin Pharmaceutical Inc. $BMRN Shares Purchased by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd raised its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 56.2% during the 3rd quarter, Holdings Channel reports. The fund owned 137,675 shares of the biotechnology company’s stock after purchasing an additional 49,534 shares during the period. Mediolanum International Funds Ltd’s holdings in BioMarin Pharmaceutical were worth $7,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of BMRN. Quent Capital LLC bought a new stake in shares of BioMarin Pharmaceutical during the third quarter valued at about $28,000. Hantz Financial Services Inc. increased its stake in 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 buying an additional 874 shares during the period. Employees Retirement System of Texas bought a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $58,000. IFP Advisors Inc lifted its stake in shares of BioMarin Pharmaceutical by 1,382.2% in the 2nd quarter. IFP Advisors Inc now owns 1,749 shares of the biotechnology company’s stock worth $96,000 after acquiring an additional 1,631 shares during the period. Finally, True Wealth Design LLC boosted its holdings in shares of BioMarin Pharmaceutical by 427.9% in the third quarter. True Wealth Design LLC now owns 1,985 shares of the biotechnology company’s stock valued at $108,000 after acquiring an additional 1,609 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ BMRN opened at $57.95 on Tuesday. The company has a quick ratio of 3.10, a current ratio of 4.83 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $11.13 billion, a price-to-earnings ratio of 21.79, a PEG ratio of 0.62 and a beta of 0.26. The stock’s fifty day simple moving average is $56.56 and its 200 day simple moving average is $55.94. BioMarin Pharmaceutical Inc. has a 52-week low of $50.76 and a 52-week high of $73.51.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Canaccord Genuity Group raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and boosted their target price for the stock from $84.00 to $98.00 in a report on Tuesday, January 20th. Weiss Ratings reiterated a “sell (d)” rating on shares of BioMarin Pharmaceutical in a research report on Monday, December 29th. Royal Bank Of Canada restated a “sector perform” rating and issued a $66.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, October 28th. JPMorgan Chase & Co. raised their target price on BioMarin Pharmaceutical from $116.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Finally, HC Wainwright lifted their target price on BioMarin Pharmaceutical from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, December 22nd. Seventeen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.04.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.