BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC increased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 3,931.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,885 shares of the biotechnology company’s stock after acquiring an additional 10,615 shares during the period. NewEdge Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $896,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Primecap Management Co. CA lifted its position in shares of BioMarin Pharmaceutical by 0.4% in the second 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. lifted its holdings in 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 in the last quarter. Avoro Capital Advisors LLC boosted its stake in shares of BioMarin Pharmaceutical by 4.4% during the 2nd quarter. Avoro Capital Advisors LLC now owns 4,557,416 shares of the biotechnology company’s stock worth $375,212,000 after purchasing an additional 192,416 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings 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 buying an additional 401,152 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of BioMarin Pharmaceutical by 38.9% in the second 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. 98.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BMRN shares. TD Cowen cut their price objective on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $93.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, September 13th. JPMorgan Chase & Co. increased their price objective on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Barclays dropped their price objective on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday. Finally, William Blair raised shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Friday, August 30th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.32.

BioMarin Pharmaceutical Trading Down 0.8 %

NASDAQ BMRN opened at $68.96 on Tuesday. BioMarin Pharmaceutical Inc. has a 12 month low of $67.75 and a 12 month high of $99.56. 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 company has a market capitalization of $13.09 billion, a price-to-earnings ratio of 64.45, a price-to-earnings-growth ratio of 0.80 and a beta of 0.31. The company’s fifty day moving average price is $82.55 and its two-hundred day moving average price is $83.17.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.39. The company had revenue of $712.03 million for the quarter, compared to analysts’ expectations of $660.51 million. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. As a group, research analysts predict that BioMarin Pharmaceutical Inc. will post 2.39 earnings per share for the current fiscal 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.