BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 132,132 shares of the biotechnology company’s stock after selling 1,390 shares during the period. Van ECK Associates Corp’s holdings in BioMarin Pharmaceutical were worth $9,247,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BMRN. AGF Management Ltd. acquired a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter valued at about $2,563,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of BioMarin Pharmaceutical during the 2nd quarter valued at approximately $5,627,000. Teachers Retirement System of The State of Kentucky grew its stake in BioMarin Pharmaceutical by 17.4% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 194,207 shares of the biotechnology company’s stock valued at $15,990,000 after acquiring an additional 28,837 shares during the period. E Fund Management Co. Ltd. increased its holdings in BioMarin Pharmaceutical by 167.4% in the 2nd quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company’s stock worth $1,110,000 after acquiring an additional 8,438 shares in the last quarter. Finally, Tidal Investments LLC raised its position in BioMarin Pharmaceutical by 65.5% during the first quarter. Tidal Investments LLC now owns 17,447 shares of the biotechnology company’s stock worth $1,524,000 after acquiring an additional 6,906 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Up 0.2 %

BMRN stock opened at $66.15 on Thursday. BioMarin Pharmaceutical Inc. has a one year low of $65.35 and a one year high of $99.56. The firm has a market cap of $12.61 billion, a PE ratio of 39.61, a PEG ratio of 0.66 and a beta of 0.31. The firm’s 50 day moving average price is $73.68 and its 200-day moving average price is $80.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). The business had revenue of $746.00 million during the quarter, compared to analysts’ expectations of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. BioMarin Pharmaceutical’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.26 EPS. On average, equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BMRN shares. Cantor Fitzgerald dropped their target price on shares of BioMarin Pharmaceutical from $110.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. William Blair lowered BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Robert W. Baird reduced their target price on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Piper Sandler boosted their price target on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Finally, Wells Fargo & Company reduced their price objective on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.16.

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.