Sumitomo Mitsui Trust Group Inc. Grows Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 470,043 shares of the biotechnology company’s stock after acquiring an additional 13,946 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in BioMarin Pharmaceutical were worth $30,896,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Merit Financial Group LLC purchased a new position in BioMarin Pharmaceutical in the fourth quarter worth $317,000. Assenagon Asset Management S.A. raised its position in BioMarin Pharmaceutical by 461.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock worth $40,205,000 after acquiring an additional 502,695 shares in the last quarter. Wedmont Private Capital purchased a new position in BioMarin Pharmaceutical in the fourth quarter worth $430,000. Swedbank AB raised its position in BioMarin Pharmaceutical by 11.2% in the fourth quarter. Swedbank AB now owns 432,122 shares of the biotechnology company’s stock worth $28,403,000 after acquiring an additional 43,593 shares in the last quarter. Finally, EULAV Asset Management raised its position in BioMarin Pharmaceutical by 12.9% in the third quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company’s stock worth $9,208,000 after acquiring an additional 15,000 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Up 0.1 %

Shares of NASDAQ:BMRN opened at $63.55 on Wednesday. The stock’s 50-day moving average price is $64.94 and its two-hundred day moving average price is $71.93. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 12-month low of $60.63 and a 12-month high of $94.85. The firm has a market cap of $12.11 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 0.57 and a beta of 0.28.

Analyst Upgrades and Downgrades

BMRN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $80.00 price target on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. Evercore ISI dropped their price target on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. StockNews.com upgraded BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Wolfe Research initiated coverage on BioMarin Pharmaceutical in a research report on Friday, November 15th. They issued an “outperform” rating and a $95.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and an average target price of $94.20.

BioMarin Pharmaceutical Company 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.