Mediolanum International Funds Ltd Makes New Investment in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Mediolanum International Funds Ltd bought a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 18,939 shares of the biotechnology company’s stock, valued at approximately $1,237,000.

Several other institutional investors have also recently bought and sold shares of BMRN. Merit Financial Group LLC bought a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth about $317,000. Assenagon Asset Management S.A. grew its holdings in shares of BioMarin Pharmaceutical by 461.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock worth $40,205,000 after purchasing an additional 502,695 shares during the last quarter. Wedmont Private Capital bought a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth about $430,000. EULAV Asset Management grew its holdings in shares of BioMarin Pharmaceutical by 12.9% during the third quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company’s stock worth $9,208,000 after purchasing an additional 15,000 shares during the last quarter. Finally, King Luther Capital Management Corp bought a new stake in shares of BioMarin Pharmaceutical during the third quarter worth about $2,027,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. UBS Group boosted their price target on BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wolfe Research assumed coverage on BioMarin Pharmaceutical in a report on Friday, November 15th. They issued an “outperform” rating and a $95.00 target price on the stock. Evercore ISI reduced their target price on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Robert W. Baird reduced their target price on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. reduced their target price on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.20.

Insider Activity at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the sale, the executive vice president now directly owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. This represents a 7.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.85% of the stock is currently owned by insiders.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $63.36 on Monday. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a twelve month low of $60.63 and a twelve month high of $94.85. The stock’s 50 day moving average is $65.15 and its 200-day moving average is $72.90. The firm has a market capitalization of $12.08 billion, a price-to-earnings ratio of 37.94, a PEG ratio of 0.55 and a beta of 0.29.

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.