Deerfield Management Company L.P. Series C Purchases Shares of 9,832 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Deerfield Management Company L.P. Series C acquired a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,832 shares of the biotechnology company's stock, valued at approximately $809,000.

A number of other hedge funds have also modified their holdings of the business. Envestnet Portfolio Solutions Inc. boosted its stake in BioMarin Pharmaceutical by 1.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company's stock worth $932,000 after purchasing an additional 130 shares during the period. Quent Capital LLC increased its position in 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 period. Yousif Capital Management LLC increased its position in BioMarin Pharmaceutical by 8.9% in the 1st quarter. Yousif Capital Management LLC now owns 2,414 shares of the biotechnology company's stock valued at $211,000 after acquiring an additional 198 shares during the period. Integrated Advisors Network LLC raised its stake in BioMarin Pharmaceutical by 6.2% during the 4th quarter. Integrated Advisors Network LLC now owns 3,533 shares of the biotechnology company's stock valued at $341,000 after acquiring an additional 206 shares during the last quarter. Finally, SteelPeak Wealth LLC lifted its position in BioMarin Pharmaceutical by 10.9% during the 1st quarter. SteelPeak Wealth LLC now owns 2,498 shares of the biotechnology company's stock worth $218,000 after acquiring an additional 246 shares during the period. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BMRN. Canaccord Genuity Group restated a "hold" rating and set a $93.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, September 13th. Bank of America lowered their target price on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Tuesday, September 17th. StockNews.com raised shares of BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a report on Thursday, August 8th. Evercore ISI lifted their price objective on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, August 6th. Finally, Wells Fargo & Company dropped their target price on BioMarin Pharmaceutical from $115.00 to $90.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 17th. Eight research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of "Moderate Buy" and an average target price of $98.84.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock traded up $0.34 during trading on Friday, hitting $70.58. 1,094,503 shares of the company were exchanged, compared to its average volume of 1,910,059. BioMarin Pharmaceutical Inc. has a fifty-two week low of $67.75 and a fifty-two week high of $99.56. 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 50 day moving average price of $84.36 and a 200 day moving average price of $83.82. The stock has a market capitalization of $13.40 billion, a price-to-earnings ratio of 65.89, a P/E/G ratio of 0.80 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.39. The business had revenue of $712.03 million for 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, equities analysts expect that BioMarin Pharmaceutical Inc. will post 2.39 earnings per share for the current fiscal 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.