DeepCurrents Investment Group LLC Sells 17,961 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

DeepCurrents Investment Group LLC trimmed its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 13.3% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 117,182 shares of the biotechnology company's stock after selling 17,961 shares during the quarter. DeepCurrents Investment Group LLC owned about 0.06% of BioMarin Pharmaceutical worth $9,648,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Primecap Management Co. CA boosted its stake in shares of BioMarin Pharmaceutical by 0.4% in the 2nd quarter. Primecap Management Co. CA now owns 18,790,085 shares of the biotechnology company's stock worth $1,546,988,000 after buying an additional 76,190 shares during the last quarter. Vanguard Group Inc. grew its stake 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 purchasing an additional 67,046 shares during the period. Capital Research Global Investors increased its position in shares of BioMarin Pharmaceutical by 79.0% during the 4th 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 last quarter. Avoro Capital Advisors LLC lifted its stake in shares of BioMarin Pharmaceutical by 4.4% in the 2nd quarter. Avoro Capital Advisors LLC now owns 4,557,416 shares of the biotechnology company's stock worth $375,212,000 after purchasing an additional 192,416 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of BioMarin Pharmaceutical by 33.3% in the 4th 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 period. Hedge funds and other institutional investors own 98.71% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on BMRN shares. Evercore ISI upped their target price on shares of BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, August 6th. Cantor Fitzgerald reissued an "overweight" rating and issued a $110.00 target price on shares of BioMarin Pharmaceutical in a report on Monday, September 9th. Wells Fargo & Company decreased their price target on BioMarin Pharmaceutical from $115.00 to $90.00 and set an "overweight" rating on the stock in a report on Tuesday, September 17th. Royal Bank of Canada lowered their target price on shares of BioMarin Pharmaceutical from $100.00 to $85.00 and set a "sector perform" rating on the stock in a report on Tuesday, September 17th. Finally, Scotiabank cut their target price 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. Eight investment 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. Based on data from MarketBeat, BioMarin Pharmaceutical has an average rating of "Moderate Buy" and a consensus price target of $98.84.

BioMarin Pharmaceutical Trading Up 1.8 %

NASDAQ BMRN traded up $1.22 during trading on Thursday, hitting $70.24. The stock had a trading volume of 1,303,532 shares, compared to its average volume of 1,914,492. The stock has a market capitalization of $13.34 billion, a price-to-earnings ratio of 65.16, a P/E/G ratio of 0.80 and a beta of 0.32. The stock has a 50 day simple moving average of $84.62 and a 200 day simple moving average of $83.92. BioMarin Pharmaceutical Inc. has a one year low of $67.75 and a one year high of $99.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $660.51 million. Sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 2.39 earnings per share for the current year.

BioMarin Pharmaceutical Company 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.