Plato Investment Management Ltd Acquires 10,005 Shares of BioMarin Pharmaceutical Inc. $BMRN

Plato Investment Management Ltd lifted its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 59.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 26,817 shares of the biotechnology company’s stock after buying an additional 10,005 shares during the quarter. Plato Investment Management Ltd’s holdings in BioMarin Pharmaceutical were worth $1,441,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. NewEdge Advisors LLC grew its holdings in shares of BioMarin Pharmaceutical by 11.5% in the first quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company’s stock valued at $266,000 after purchasing an additional 388 shares in the last quarter. Empowered Funds LLC lifted its position in BioMarin Pharmaceutical by 207.4% during the first quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock valued at $850,000 after purchasing an additional 8,112 shares during the last quarter. Focus Partners Wealth grew its stake in shares of BioMarin Pharmaceutical by 70.2% in the 1st quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock worth $835,000 after buying an additional 4,876 shares in the last quarter. Sivia Capital Partners LLC grew its stake in shares of BioMarin Pharmaceutical by 33.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company’s stock worth $244,000 after buying an additional 1,102 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter worth about $301,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Piper Sandler dropped their price target on shares of BioMarin Pharmaceutical from $122.00 to $84.00 and set an “overweight” rating for the company in a research note on Friday. Leerink Partners downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $82.00 to $60.00 in a research note on Wednesday, December 3rd. Barclays started coverage on BioMarin Pharmaceutical in a research note on Wednesday, January 28th. They set an “overweight” rating and a $80.00 target price on the stock. HC Wainwright raised their price target on BioMarin Pharmaceutical from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, December 22nd. Finally, Wedbush restated an “outperform” rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, October 28th. Seventeen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus price target of $88.29.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $58.13 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.10 and a current ratio of 4.83. The stock has a 50-day moving average of $56.71 and a two-hundred day moving average of $55.92. The stock has a market cap of $11.17 billion, a P/E ratio of 21.85, a P/E/G ratio of 0.64 and a beta of 0.26. BioMarin Pharmaceutical Inc. has a one year low of $50.76 and a one year high of $73.51.

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.