Stoneridge Investment Partners LLC Acquires 6,355 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Stoneridge Investment Partners LLC increased its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 151.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 10,545 shares of the biotechnology company's stock after purchasing an additional 6,355 shares during the period. Stoneridge Investment Partners LLC's holdings in BioMarin Pharmaceutical were worth $693,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Merit Financial Group LLC bought a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at approximately $317,000. Assenagon Asset Management S.A. boosted its holdings in BioMarin Pharmaceutical by 461.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company's stock valued at $40,205,000 after purchasing an additional 502,695 shares during the period. Wedmont Private Capital bought a new stake in BioMarin Pharmaceutical in the 4th quarter valued at $430,000. Swedbank AB grew its position in BioMarin Pharmaceutical by 11.2% in the 4th quarter. Swedbank AB now owns 432,122 shares of the biotechnology company's stock worth $28,403,000 after purchasing an additional 43,593 shares during the last quarter. Finally, EULAV Asset Management increased its holdings in shares of BioMarin Pharmaceutical by 12.9% during the 3rd quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company's stock worth $9,208,000 after purchasing an additional 15,000 shares during the period. Institutional investors and hedge funds own 98.71% of the company's stock.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN traded up $2.31 during midday trading on Wednesday, reaching $65.86. The company's stock had a trading volume of 1,187,703 shares, compared to its average volume of 1,526,225. The business's fifty day simple moving average is $64.95 and its 200-day simple moving average is $71.78. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. BioMarin Pharmaceutical Inc. has a fifty-two week low of $60.63 and a fifty-two week high of $94.85. The company has a market capitalization of $12.55 billion, a P/E ratio of 39.44, a P/E/G ratio of 0.57 and a beta of 0.28.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BMRN. Citigroup lowered their price target on BioMarin Pharmaceutical from $93.00 to $81.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lowered their price objective on BioMarin Pharmaceutical from $110.00 to $109.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. UBS Group raised their target price on BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reissued an "overweight" rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, December 12th. Finally, William Blair cut shares of BioMarin Pharmaceutical from an "outperform" rating to a "market perform" rating in a research note on Wednesday, October 30th. Seven investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $94.20.

About BioMarin Pharmaceutical

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.