11,991 Shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Purchased by MBB Public Markets I LLC

MBB Public Markets I LLC purchased a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,991 shares of the biotechnology company's stock, valued at approximately $987,000.

Several other hedge funds also recently added to or reduced their stakes in BMRN. Capital Research Global Investors increased its stake 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 last quarter. Principal Financial Group Inc. increased its stake in BioMarin Pharmaceutical by 1,858.6% in the second quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company's stock valued at $53,470,000 after purchasing an additional 616,301 shares during the last quarter. Avoro Capital Advisors LLC increased its stake in BioMarin Pharmaceutical by 11.7% in the fourth quarter. Avoro Capital Advisors LLC now owns 4,300,000 shares of the biotechnology company's stock valued at $414,606,000 after purchasing an additional 450,000 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of 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 acquiring an additional 401,152 shares during the last quarter. Finally, Third Point LLC purchased a new position in shares of BioMarin Pharmaceutical during the fourth quarter worth approximately $37,122,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BMRN has been the topic of a number of research reports. Wells Fargo & Company lowered their target price on shares of BioMarin Pharmaceutical from $115.00 to $90.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 17th. Piper Sandler raised their target price on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an "overweight" rating in a research report on Thursday, September 5th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a research report on Thursday, August 8th. 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 research report on Tuesday, September 17th. Finally, Truist Financial lowered their target price on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a "buy" rating on the stock in a research report on Tuesday, September 17th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, BioMarin Pharmaceutical has a consensus rating of "Moderate Buy" and a consensus target price of $98.84.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock traded down $0.19 during midday trading on Tuesday, reaching $70.10. The company's stock had a trading volume of 1,222,172 shares, compared to its average volume of 1,903,910. 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 debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05. The stock's 50 day simple moving average is $83.50 and its 200 day simple moving average is $83.50. The firm has a market capitalization of $13.31 billion, a PE ratio of 65.51, a P/E/G ratio of 0.80 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 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 the consensus estimate of $660.51 million. On average, equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 2.39 earnings per share for the current year.

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.