S Bank Fund Management Ltd Makes New Investment in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

S Bank Fund Management Ltd acquired a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,910 shares of the biotechnology company’s stock, valued at approximately $206,000.

Other institutional investors have also added to or reduced their stakes in the company. Vestal Point Capital LP increased its holdings in shares of BioMarin Pharmaceutical by 115.0% during the fourth quarter. Vestal Point Capital LP now owns 860,000 shares of the biotechnology company’s stock valued at $56,528,000 after acquiring an additional 460,000 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of BioMarin Pharmaceutical by 154.0% during the first quarter. GAMMA Investing LLC now owns 3,129 shares of the biotechnology company’s stock valued at $221,000 after acquiring an additional 1,897 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of BioMarin Pharmaceutical by 12.3% during the first quarter. Robeco Institutional Asset Management B.V. now owns 97,261 shares of the biotechnology company’s stock valued at $6,875,000 after acquiring an additional 10,687 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of BioMarin Pharmaceutical by 5.3% during the first quarter. Asset Management One Co. Ltd. now owns 80,879 shares of the biotechnology company’s stock valued at $5,717,000 after acquiring an additional 4,094 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of BioMarin Pharmaceutical by 56.6% during the first quarter. Janney Montgomery Scott LLC now owns 12,016 shares of the biotechnology company’s stock valued at $849,000 after acquiring an additional 4,345 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total value of $105,927.66. Following the transaction, the chief accounting officer directly owned 14,173 shares of the company’s stock, valued at approximately $840,600.63. This trade represents a 11.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Trading Up 2.5%

Shares of NASDAQ:BMRN opened at $58.30 on Thursday. The stock has a market capitalization of $11.19 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 0.73 and a beta of 0.18. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 5.56. The stock’s 50-day simple moving average is $57.33 and its two-hundred day simple moving average is $61.64. BioMarin Pharmaceutical Inc. has a 52-week low of $52.93 and a 52-week high of $94.85.

Wall Street Analyst Weigh In

BMRN has been the subject of several analyst reports. Guggenheim raised their price target on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Wolfe Research set a $95.00 price target on BioMarin Pharmaceutical and gave the company an “outperform” rating in a report on Tuesday, July 15th. Morgan Stanley reduced their price target on BioMarin Pharmaceutical from $97.00 to $96.00 and set an “overweight” rating for the company in a report on Tuesday, July 22nd. The Goldman Sachs Group reduced their price target on BioMarin Pharmaceutical from $124.00 to $104.00 and set a “buy” rating for the company in a report on Monday, May 5th. Finally, UBS Group lifted their price objective on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Six analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.17.

BioMarin Pharmaceutical Profile

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.