Andra AP fonden Makes New $1.52 Million Investment in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Andra AP fonden purchased a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 18,400 shares of the biotechnology company's stock, valued at approximately $1,515,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. boosted its position in BioMarin Pharmaceutical by 1.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company's stock worth $932,000 after acquiring an additional 130 shares during the last quarter. Quent Capital LLC boosted its holdings in shares of BioMarin Pharmaceutical by 58.9% during the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock worth $32,000 after purchasing an additional 145 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in shares of BioMarin Pharmaceutical by 8.9% during the first quarter. Yousif Capital Management LLC now owns 2,414 shares of the biotechnology company's stock worth $211,000 after purchasing an additional 198 shares during the last quarter. Integrated Advisors Network LLC grew its position in shares of BioMarin Pharmaceutical by 6.2% in the fourth quarter. Integrated Advisors Network LLC now owns 3,533 shares of the biotechnology company's stock valued at $341,000 after purchasing an additional 206 shares during the period. Finally, SteelPeak Wealth LLC increased its stake in BioMarin Pharmaceutical by 10.9% in the first quarter. SteelPeak Wealth LLC now owns 2,498 shares of the biotechnology company's stock valued at $218,000 after purchasing an additional 246 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on BMRN shares. Robert W. Baird cut BioMarin Pharmaceutical from an "outperform" rating to a "neutral" rating and lowered their price target for the company from $104.00 to $72.00 in a report on Friday, May 17th. Wells Fargo & Company boosted their target price on shares of BioMarin Pharmaceutical from $110.00 to $115.00 and gave the company an "overweight" rating in a report on Thursday, June 27th. Scotiabank upped their price target on shares of BioMarin Pharmaceutical from $86.00 to $95.00 and gave the stock a "sector perform" rating in a research report on Thursday, September 5th. Truist Financial decreased their price target on shares of BioMarin Pharmaceutical from $140.00 to $118.00 and set a "buy" rating on the stock in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. upped their price objective on BioMarin Pharmaceutical from $111.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, September 5th. Eight analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of "Moderate Buy" and an average price target of $106.30.

BioMarin Pharmaceutical Stock Up 0.6 %

BMRN traded up $0.52 during trading hours on Friday, reaching $84.90. 1,190,020 shares of the stock traded hands, compared to its average volume of 1,836,612. BioMarin Pharmaceutical Inc. has a fifty-two week low of $73.68 and a fifty-two week high of $99.56. The company has a market cap of $16.12 billion, a price-to-earnings ratio of 79.35, a PEG ratio of 1.03 and a beta of 0.32. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 1.95. The firm's fifty day simple moving average is $86.84 and its two-hundred day simple moving average is $84.89.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.39. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. The company had revenue of $712.03 million during the quarter, compared to the consensus estimate of $660.51 million. As a group, analysts forecast that BioMarin Pharmaceutical Inc. will post 2.4 earnings per share for the current fiscal year.

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.