BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stock Position Raised by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lifted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,287 shares of the biotechnology company’s stock after acquiring an additional 1,090 shares during the quarter. Royal London Asset Management Ltd.’s holdings in BioMarin Pharmaceutical were worth $6,034,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 1.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock valued at $932,000 after purchasing an additional 130 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of BioMarin Pharmaceutical by 58.9% in the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 145 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in shares of BioMarin Pharmaceutical by 8.9% in the first quarter. Yousif Capital Management LLC now owns 2,414 shares of the biotechnology company’s stock valued at $211,000 after purchasing an additional 198 shares in the last quarter. Integrated Advisors Network LLC lifted its holdings in shares of BioMarin Pharmaceutical by 6.2% in the fourth quarter. Integrated Advisors Network LLC now owns 3,533 shares of the biotechnology company’s stock valued at $341,000 after purchasing an additional 206 shares in the last quarter. Finally, SteelPeak Wealth LLC lifted its holdings in shares of BioMarin Pharmaceutical by 10.9% in the first quarter. SteelPeak Wealth LLC now owns 2,498 shares of the biotechnology company’s stock valued at $218,000 after purchasing an additional 246 shares in the last quarter. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Trading Up 0.6 %

BioMarin Pharmaceutical stock opened at $84.90 on Friday. 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 business’s 50-day simple moving average is $86.84 and its 200-day simple moving average is $84.89. The firm has a market capitalization of $16.12 billion, a PE ratio of 79.35, a PEG ratio of 1.03 and a beta of 0.32. BioMarin Pharmaceutical Inc. has a 52 week low of $73.68 and a 52 week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results 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. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. The firm had revenue of $712.03 million for the quarter, compared to analyst estimates of $660.51 million. Equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 2.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

BMRN has been the subject of a number of research analyst reports. Robert W. Baird lowered BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $104.00 to $72.00 in a report on Friday, May 17th. Barclays cut their price objective on BioMarin Pharmaceutical from $111.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $110.00 price objective on shares of BioMarin Pharmaceutical in a report on Monday, September 9th. Wells Fargo & Company increased their price objective on BioMarin Pharmaceutical from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Finally, Sanford C. Bernstein upgraded BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $94.00 to $110.00 in a report on Tuesday, August 20th. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus target price of $106.11.

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.