Sumitomo Mitsui Trust Group Inc. Has $30.90 Million Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Sumitomo Mitsui Trust Group Inc. increased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 470,043 shares of the biotechnology company's stock after buying an additional 13,946 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of BioMarin Pharmaceutical worth $30,896,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. nVerses Capital LLC acquired a new position in shares of BioMarin Pharmaceutical in the third quarter valued at approximately $28,000. TD Private Client Wealth LLC increased its position in BioMarin Pharmaceutical by 57.4% during the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company's stock worth $36,000 after purchasing an additional 186 shares during the last quarter. Meeder Asset Management Inc. increased its position in BioMarin Pharmaceutical by 920.8% during the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company's stock worth $52,000 after purchasing an additional 663 shares during the last quarter. GAMMA Investing LLC increased its position in BioMarin Pharmaceutical by 56.1% during the third quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company's stock worth $55,000 after purchasing an additional 281 shares during the last quarter. Finally, True Wealth Design LLC increased its position in BioMarin Pharmaceutical by 13,400.0% during the third quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company's stock worth $57,000 after purchasing an additional 804 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on BMRN. William Blair lowered shares of BioMarin Pharmaceutical from an "outperform" rating to a "market perform" rating in a research report on Wednesday, October 30th. Wedbush raised shares of BioMarin Pharmaceutical to a "strong-buy" rating in a research report on Monday, November 4th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Tuesday. Royal Bank of Canada reiterated a "sector perform" rating and set a $80.00 price objective on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 30th. Finally, Evercore ISI decreased their price objective on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, BioMarin Pharmaceutical has a consensus rating of "Moderate Buy" and a consensus target price of $94.20.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN traded up $0.43 on Friday, reaching $64.85. 1,048,855 shares of the company's stock were exchanged, compared to its average volume of 1,674,690. The firm has a market capitalization of $12.36 billion, a price-to-earnings ratio of 38.83, a PEG ratio of 0.57 and a beta of 0.28. BioMarin Pharmaceutical Inc. has a fifty-two week low of $60.63 and a fifty-two week high of $94.85. The business's 50-day moving average is $64.86 and its two-hundred day moving average is $71.56. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11.

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.