Troluce Capital Advisors LLC bought a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 71,600 shares of the biotechnology company's stock, valued at approximately $5,895,000.
Several other large investors have also modified their holdings of the business. Capital Research Global Investors raised its position in BioMarin Pharmaceutical by 79.0% in the fourth quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company's stock valued at $1,038,907,000 after purchasing an additional 4,756,671 shares during the period. Principal Financial Group Inc. lifted its stake in BioMarin Pharmaceutical by 1,858.6% during the 2nd quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company's stock worth $53,470,000 after acquiring an additional 616,301 shares in the last quarter. Avoro Capital Advisors LLC lifted its stake in BioMarin Pharmaceutical by 11.7% during the 4th quarter. Avoro Capital Advisors LLC now owns 4,300,000 shares of the biotechnology company's stock worth $414,606,000 after acquiring an additional 450,000 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in BioMarin Pharmaceutical by 33.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,605,983 shares of the biotechnology company's stock valued at $154,850,000 after acquiring an additional 401,152 shares during the period. Finally, Third Point LLC acquired a new position in BioMarin Pharmaceutical in the 4th quarter valued at about $37,122,000. Institutional investors and hedge funds own 98.71% of the company's stock.
BioMarin Pharmaceutical Stock Performance
Shares of BioMarin Pharmaceutical stock traded down $0.46 on Wednesday, hitting $69.02. The stock had a trading volume of 1,702,593 shares, compared to its average volume of 1,917,791. The company's 50 day moving average price is $84.93 and its 200 day moving average price is $84.02. The stock has a market cap of $13.11 billion, a price-to-earnings ratio of 64.42, a P/E/G ratio of 0.80 and a beta of 0.32. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 52-week low of $67.75 and a 52-week high of $99.56.
BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $712.03 million during the quarter, compared to the consensus estimate of $660.51 million. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. On average, research analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.39 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on BMRN. Scotiabank lowered their price objective on shares of BioMarin Pharmaceutical from $95.00 to $78.00 and set a "sector perform" rating for the company in a research note on Tuesday, September 17th. Stifel Nicolaus dropped their price target on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a "buy" rating for the company in a research note on Tuesday, September 17th. Piper Sandler increased their price objective on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an "overweight" rating in a research note on Thursday, September 5th. StockNews.com raised BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a research note on Thursday, August 8th. Finally, 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 report on Thursday, September 5th. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $98.84.
Read Our Latest Report on BMRN
About BioMarin Pharmaceutical
(
Free Report)
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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