Pallas Capital Advisors LLC Boosts Stock Holdings in BioMarin Pharmaceutical Inc. $BMRN

Pallas Capital Advisors LLC grew its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 10.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,518 shares of the biotechnology company’s stock after purchasing an additional 2,785 shares during the period. Pallas Capital Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $1,568,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Byrne Financial Freedom LLC boosted its holdings in shares of BioMarin Pharmaceutical by 4.4% in the first quarter. Byrne Financial Freedom LLC now owns 3,852 shares of the biotechnology company’s stock valued at $272,000 after purchasing an additional 161 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of BioMarin Pharmaceutical by 0.9% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,523 shares of the biotechnology company’s stock worth $1,592,000 after buying an additional 197 shares during the period. Xponance Inc. increased its holdings in shares of BioMarin Pharmaceutical by 0.6% in the first quarter. Xponance Inc. now owns 31,877 shares of the biotechnology company’s stock valued at $2,253,000 after purchasing an additional 202 shares during the period. Farther Finance Advisors LLC lifted its stake in BioMarin Pharmaceutical by 95.9% during the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 211 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in BioMarin Pharmaceutical by 5.0% in the first quarter. Nisa Investment Advisors LLC now owns 4,572 shares of the biotechnology company’s stock valued at $323,000 after purchasing an additional 217 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock opened at $55.14 on Friday. The firm has a market cap of $10.59 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. BioMarin Pharmaceutical Inc. has a one year low of $52.93 and a one year high of $73.51. The stock’s 50-day moving average is $57.67 and its 200-day moving average is $60.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.60.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BMRN shares. Wedbush reiterated an “outperform” rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, August 5th. Raymond James Financial began coverage on shares of BioMarin Pharmaceutical in a report on Wednesday, September 3rd. They set an “outperform” rating and a $85.00 target price for the company. Morgan Stanley dropped their target price on BioMarin Pharmaceutical from $97.00 to $96.00 and set an “overweight” rating for the company in a report on Tuesday, July 22nd. Wall Street Zen upgraded BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 13th. Finally, HC Wainwright assumed coverage on shares of BioMarin Pharmaceutical in a research report on Monday, September 8th. They set a “neutral” rating and a $60.00 price target for the company. Fourteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and an average target price of $92.60.

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.