Primecap Management Co. CA Boosts Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Primecap Management Co. CA boosted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 0.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,790,085 shares of the biotechnology company's stock after purchasing an additional 76,190 shares during the period. BioMarin Pharmaceutical comprises approximately 1.1% of Primecap Management Co. CA's investment portfolio, making the stock its 23rd biggest position. Primecap Management Co. CA owned 9.90% of BioMarin Pharmaceutical worth $1,546,988,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BMRN. Innealta Capital LLC bought a new stake in BioMarin Pharmaceutical during the second quarter worth $25,000. BOKF NA bought a new stake in BioMarin Pharmaceutical during the second quarter worth $31,000. Quent Capital LLC lifted its stake in shares of BioMarin Pharmaceutical by 58.9% in the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock valued at $32,000 after acquiring an additional 145 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at $43,000. Finally, AM Squared Ltd bought a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $66,000. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Stock Up 1.0 %

BMRN stock traded up $0.69 during mid-day trading on Tuesday, reaching $70.55. 4,638,646 shares of the company traded hands, compared to its average volume of 1,901,139. The stock has a market cap of $13.40 billion, a price-to-earnings ratio of 66.56, a P/E/G ratio of 1.03 and a beta of 0.32. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a fifty-two week low of $68.83 and a fifty-two week high of $99.56. The firm's 50 day moving average price is $86.58 and its 200 day moving average price is $84.71.

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

Analyst Ratings Changes

A number of research analysts have recently commented on BMRN shares. TD Cowen dropped their price target on BioMarin Pharmaceutical from $125.00 to $120.00 and set a "buy" rating for the company in a research note on Tuesday, August 6th. JPMorgan Chase & Co. increased their price target on BioMarin Pharmaceutical from $111.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, September 5th. Sanford C. Bernstein dropped their price target on BioMarin Pharmaceutical from $116.00 to $90.00 and set an "outperform" rating for the company in a research note on Tuesday. Scotiabank dropped their price target on BioMarin Pharmaceutical from $95.00 to $78.00 and set a "sector perform" rating for the company in a research note on Tuesday. Finally, Evercore ISI increased their price target on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, August 6th. Eight research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of "Moderate Buy" and a consensus price target of $99.90.

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.