BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Acquired by Primecap Management Co. CA

Primecap Management Co. CA lifted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 0.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,867,435 shares of the biotechnology company's stock after buying an additional 77,350 shares during the period. Primecap Management Co. CA owned approximately 9.90% of BioMarin Pharmaceutical worth $1,326,192,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BMRN. King Luther Capital Management Corp purchased a new position in shares of BioMarin Pharmaceutical during the third quarter worth $2,027,000. Grandfield & Dodd LLC increased its holdings in BioMarin Pharmaceutical by 2.6% in the third quarter. Grandfield & Dodd LLC now owns 16,661 shares of the biotechnology company's stock valued at $1,171,000 after buying an additional 425 shares in the last quarter. EULAV Asset Management increased its holdings in BioMarin Pharmaceutical by 12.9% in the third quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company's stock valued at $9,208,000 after buying an additional 15,000 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in BioMarin Pharmaceutical by 1.6% in the third quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company's stock valued at $805,000 after buying an additional 180 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in BioMarin Pharmaceutical in the third quarter valued at $8,172,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Up 1.0 %

Shares of NASDAQ:BMRN opened at $62.56 on Thursday. BioMarin Pharmaceutical Inc. has a 1-year low of $61.15 and a 1-year high of $99.56. The stock has a market cap of $11.92 billion, a P/E ratio of 37.46, a P/E/G ratio of 0.63 and a beta of 0.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. The firm has a fifty day moving average price of $69.08 and a 200 day moving average price of $78.70.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The firm had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. During the same quarter last year, the business posted $0.26 EPS. The firm's revenue was up 28.4% on a year-over-year basis. Sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 2.47 EPS for the current year.

Insider Activity

In other news, EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the transaction, the executive vice president now owns 68,909 shares in the company, valued at $4,573,490.33. This trade represents a 7.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BMRN shares. Barclays lowered their price target on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an "overweight" rating on the stock in a research report on Friday, October 4th. Truist Financial reduced their price target on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a "buy" rating on the stock in a research note on Tuesday, September 17th. StockNews.com raised shares of BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a research note on Thursday, August 8th. Sanford C. Bernstein reduced their price target on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 17th. Finally, Bank of America reduced their price target on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Tuesday, September 17th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $94.20.

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.

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