BioMarin Pharmaceutical Inc. $BMRN Position Boosted by Vinva Investment Management Ltd

Vinva Investment Management Ltd grew its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 216.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,403 shares of the biotechnology company’s stock after purchasing an additional 67,309 shares during the period. Vinva Investment Management Ltd owned about 0.05% of BioMarin Pharmaceutical worth $5,316,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC grew its position in BioMarin Pharmaceutical by 90.7% during the second quarter. AQR Capital Management LLC now owns 5,580,573 shares of the biotechnology company’s stock valued at $306,429,000 after purchasing an additional 2,654,768 shares in the last quarter. Norges Bank purchased a new stake in BioMarin Pharmaceutical in the 2nd quarter worth approximately $112,352,000. Viking Global Investors LP lifted its position in BioMarin Pharmaceutical by 13.8% in the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock worth $675,505,000 after buying an additional 1,488,552 shares in the last quarter. LSV Asset Management boosted its stake in shares of BioMarin Pharmaceutical by 2,445.5% during the 3rd quarter. LSV Asset Management now owns 845,500 shares of the biotechnology company’s stock valued at $45,792,000 after buying an additional 812,284 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of BioMarin Pharmaceutical by 42.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,245,186 shares of the biotechnology company’s stock valued at $121,597,000 after buying an additional 671,566 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Gregory R. Friberg sold 6,326 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $60.38, for a total transaction of $381,963.88. Following the transaction, the executive vice president owned 37,578 shares of the company’s stock, valued at approximately $2,268,959.64. This represents a 14.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Trading Up 0.9%

BioMarin Pharmaceutical stock opened at $61.12 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.21 and a quick ratio of 3.50. The company has a market capitalization of $11.75 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 0.53 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a one year low of $50.76 and a one year high of $73.51. The company’s fifty day moving average price is $58.92 and its two-hundred day moving average price is $56.25.

Analyst Ratings Changes

BMRN has been the topic of a number of research reports. Loop Capital set a $105.00 price target on shares of BioMarin Pharmaceutical in a research note on Monday, March 2nd. HC Wainwright reduced their price objective on BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Sanford C. Bernstein boosted their target price on BioMarin Pharmaceutical from $90.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Oppenheimer dropped their target price on BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Finally, Leerink Partners downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $82.00 to $60.00 in a research note on Wednesday, December 3rd. Fifteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $89.64.

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.