BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Purchased by abrdn plc

abrdn plc boosted its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 6.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 527,681 shares of the biotechnology company's stock after acquiring an additional 33,240 shares during the period. abrdn plc owned 0.28% of BioMarin Pharmaceutical worth $37,091,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Pallas Capital Advisors LLC acquired a new position in BioMarin Pharmaceutical in the 3rd quarter valued at about $503,000. Asahi Life Asset Management CO. LTD. acquired a new position in BioMarin Pharmaceutical during the 3rd quarter worth approximately $384,000. Wealth Enhancement Advisory Services LLC increased its position in BioMarin Pharmaceutical by 64.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,861 shares of the biotechnology company's stock worth $412,000 after purchasing an additional 2,289 shares during the period. Forsta AP Fonden increased its position in BioMarin Pharmaceutical by 10.3% during the 3rd quarter. Forsta AP Fonden now owns 36,400 shares of the biotechnology company's stock worth $2,559,000 after purchasing an additional 3,400 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in BioMarin Pharmaceutical by 16.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,404 shares of the biotechnology company's stock worth $593,000 after purchasing an additional 1,167 shares during the period. Institutional investors and hedge funds own 98.71% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Evercore ISI dropped their target price on BioMarin Pharmaceutical from $115.00 to $105.00 and set an "outperform" rating on the stock in a research report on Wednesday. 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. Canaccord Genuity Group decreased their price target on BioMarin Pharmaceutical from $93.00 to $84.00 and set a "hold" rating on the stock in a research note on Wednesday. Robert W. Baird decreased their price target on BioMarin Pharmaceutical from $72.00 to $65.00 and set a "neutral" rating on the stock in a research note on Wednesday. Finally, Bank of America decreased their price target on BioMarin Pharmaceutical from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Tuesday, September 17th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, BioMarin Pharmaceutical has an average rating of "Moderate Buy" and a consensus price target of $93.67.

BioMarin Pharmaceutical Trading Down 1.2 %

BMRN traded down $0.79 during trading on Thursday, hitting $65.89. The company's stock had a trading volume of 1,843,292 shares, compared to its average volume of 1,848,864. The firm's 50 day moving average price is $75.60 and its 200-day moving average price is $80.84. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 1.95. The stock has a market cap of $12.51 billion, a PE ratio of 61.58, a PEG ratio of 0.81 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a twelve month low of $65.35 and a twelve month high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.23). The business had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. The company's revenue was up 28.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 earnings per share. On average, analysts expect 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.