Praxis Investment Management Inc. Acquires 4,370 Shares of BioMarin Pharmaceutical Inc. $BMRN

Praxis Investment Management Inc. grew its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 86.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,440 shares of the biotechnology company’s stock after buying an additional 4,370 shares during the quarter. Praxis Investment Management Inc.’s holdings in BioMarin Pharmaceutical were worth $519,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Rise Advisors LLC purchased a new stake in shares of BioMarin Pharmaceutical in the 1st quarter worth $30,000. Farther Finance Advisors LLC lifted its holdings in shares of BioMarin Pharmaceutical by 95.9% in the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company’s stock worth $29,000 after buying an additional 211 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter worth $25,000. Brooklyn Investment Group lifted its holdings in shares of BioMarin Pharmaceutical by 2,250.0% in the 1st quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company’s stock worth $40,000 after buying an additional 540 shares during the period. Finally, Banque Transatlantique SA purchased a new stake in shares of BioMarin Pharmaceutical in the 1st quarter worth $71,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Trading Up 0.6%

BioMarin Pharmaceutical stock opened at $53.29 on Friday. The stock has a 50-day moving average of $55.66 and a two-hundred day moving average of $57.49. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 5.56. BioMarin Pharmaceutical Inc. has a one year low of $51.56 and a one year high of $73.51. The stock has a market cap of $10.23 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 0.67 and a beta of 0.33.

Wall Street Analysts Forecast Growth

BMRN has been the subject of several research reports. UBS Group upped their target price on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Wedbush restated an “outperform” rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Tuesday, August 5th. JPMorgan Chase & Co. upped their price objective on BioMarin Pharmaceutical from $116.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Wolfe Research set a $95.00 price objective on BioMarin Pharmaceutical and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Finally, Zacks Research cut BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Thirteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.26.

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.