20,167 Shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Bought by Federated Hermes Inc.

Federated Hermes Inc. purchased a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 20,167 shares of the biotechnology company's stock, valued at approximately $1,660,000.

Several other hedge funds and other institutional investors also recently modified their holdings of BMRN. Vanguard Group Inc. boosted its holdings in shares of BioMarin Pharmaceutical by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 18,117,108 shares of the biotechnology company's stock valued at $1,582,348,000 after acquiring an additional 67,046 shares in the last quarter. Capital Research Global Investors increased its position in shares of BioMarin Pharmaceutical by 79.0% during the fourth quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company's stock worth $1,038,907,000 after acquiring an additional 4,756,671 shares in the last quarter. Avoro Capital Advisors LLC lifted its holdings in shares of BioMarin Pharmaceutical by 1.5% in the first quarter. Avoro Capital Advisors LLC now owns 4,365,000 shares of the biotechnology company's stock valued at $381,239,000 after purchasing an additional 65,000 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in BioMarin Pharmaceutical by 33.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,605,983 shares of the biotechnology company's stock worth $154,850,000 after purchasing an additional 401,152 shares during the last quarter. Finally, DNB Asset Management AS grew its stake in BioMarin Pharmaceutical by 17.7% in the 2nd quarter. DNB Asset Management AS now owns 1,021,054 shares of the biotechnology company's stock valued at $84,063,000 after purchasing an additional 153,867 shares during the period. Institutional investors own 98.71% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on BMRN shares. Truist Financial cut their price objective on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, September 5th. Cantor Fitzgerald reissued an "overweight" rating and issued a $110.00 target price on shares of BioMarin Pharmaceutical in a research report on Monday, September 9th. StockNews.com upgraded BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a report on Thursday, August 8th. Finally, Stifel Nicolaus dropped their target price on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a "buy" rating on the stock in a report on Tuesday. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $98.84.

BioMarin Pharmaceutical Stock Performance

BMRN traded down $0.72 during trading on Friday, hitting $70.69. The company's stock had a trading volume of 3,398,035 shares, compared to its average volume of 1,916,588. BioMarin Pharmaceutical Inc. has a one year low of $68.83 and a one year high of $99.56. The business's 50 day simple moving average is $85.57 and its 200-day simple moving average is $84.27. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11. The firm has a market cap of $13.42 billion, a PE ratio of 66.07, a P/E/G ratio of 1.03 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released 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 for the quarter, compared to the consensus estimate of $660.51 million. As a group, sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 2.4 EPS for the current fiscal year.

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.