AlphaCentric Advisors LLC Purchases 16,000 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

AlphaCentric Advisors LLC increased its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 97.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,500 shares of the biotechnology company's stock after buying an additional 16,000 shares during the quarter. BioMarin Pharmaceutical accounts for approximately 1.7% of AlphaCentric Advisors LLC's holdings, making the stock its 11th largest holding. AlphaCentric Advisors LLC's holdings in BioMarin Pharmaceutical were worth $2,284,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Primecap Management Co. CA lifted its position in 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 valued at $1,546,988,000 after acquiring an additional 76,190 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of BioMarin Pharmaceutical by 0.4% in 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. Avoro Capital Advisors LLC boosted its position in shares of BioMarin Pharmaceutical by 4.4% during the second quarter. Avoro Capital Advisors LLC now owns 4,557,416 shares of the biotechnology company's stock worth $375,212,000 after buying an additional 192,416 shares during the period. Dimensional Fund Advisors LP raised its position in BioMarin Pharmaceutical by 38.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company's stock valued at $85,178,000 after buying an additional 289,953 shares during the last quarter. Finally, DNB Asset Management AS lifted its stake in BioMarin Pharmaceutical by 17.7% in the 2nd quarter. DNB Asset Management AS now owns 1,021,054 shares of the biotechnology company's stock valued at $84,063,000 after acquiring an additional 153,867 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN traded up $0.04 during midday trading on Tuesday, reaching $66.05. 1,316,905 shares of the stock were exchanged, compared to its average volume of 1,846,309. The stock's 50 day simple moving average is $74.65 and its 200 day simple moving average is $80.36. The company has a market cap of $12.59 billion, a P/E ratio of 39.70, a PEG ratio of 0.66 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. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The business had revenue of $746.00 million during the quarter, compared to the consensus estimate of $703.37 million. During the same period in the prior year, the firm earned $0.26 EPS. The business's revenue for the quarter was up 28.4% on a year-over-year basis. On average, sell-side analysts expect that BioMarin Pharmaceutical Inc. will post 2.47 earnings per share for the current year.

Wall Street Analyst Weigh In

BMRN has been the subject of several research reports. Sanford C. Bernstein decreased their price target on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an "outperform" rating for the company in a research note on Tuesday, September 17th. Bank of America lowered their price target on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Tuesday, September 17th. Citigroup reduced their price objective on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th. StockNews.com raised BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald decreased their price target on BioMarin Pharmaceutical from $110.00 to $90.00 and set an "overweight" rating for the company in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of "Moderate Buy" and an average target price of $94.16.

BioMarin Pharmaceutical 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.