BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Bought by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. grew its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 167.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,480 shares of the biotechnology company's stock after buying an additional 8,438 shares during the period. E Fund Management Co. Ltd.'s holdings in BioMarin Pharmaceutical were worth $1,110,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the stock. Innealta Capital LLC purchased a new position in shares of BioMarin Pharmaceutical during the 2nd quarter valued at approximately $25,000. BOKF NA acquired a new position in BioMarin Pharmaceutical in the 2nd quarter valued at about $31,000. Quent Capital LLC boosted its holdings in BioMarin Pharmaceutical by 58.9% in the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock valued at $32,000 after purchasing an additional 145 shares during the period. Jones Financial Companies Lllp acquired a new position in BioMarin Pharmaceutical during the 4th quarter worth approximately $43,000. Finally, Scarborough Advisors LLC purchased a new stake in BioMarin Pharmaceutical during the fourth quarter worth approximately $71,000. Institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Trading Up 0.4 %

NASDAQ:BMRN traded up $0.27 during midday trading on Thursday, hitting $71.41. 2,934,332 shares of the company traded hands, compared to its average volume of 1,908,401. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. The firm's fifty day moving average is $85.86 and its 200-day moving average is $84.40. BioMarin Pharmaceutical Inc. has a 12-month low of $68.83 and a 12-month high of $99.56. The firm has a market capitalization of $13.56 billion, a P/E ratio of 66.74, a P/E/G ratio of 1.03 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (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 business had revenue of $712.03 million for the quarter, compared to analyst estimates of $660.51 million. On average, sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 2.4 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BMRN. Canaccord Genuity Group restated a "hold" rating and issued a $93.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, September 13th. Barclays cut their price target on BioMarin Pharmaceutical from $111.00 to $110.00 and set an "overweight" rating for the company in a report on Tuesday, August 6th. Piper Sandler boosted their target price on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an "overweight" rating in a report on Thursday, September 5th. Stifel Nicolaus reduced their target price on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Royal Bank of Canada dropped their target price on shares of BioMarin Pharmaceutical from $100.00 to $85.00 and set a "sector perform" rating for the company in a research report on Tuesday. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $98.84.

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.