BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 16.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,404 shares of the biotechnology company’s stock after purchasing an additional 1,167 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in BioMarin Pharmaceutical were worth $593,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. AGF Management Ltd. purchased a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at about $2,563,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter worth approximately $5,627,000. Teachers Retirement System of The State of Kentucky grew its holdings in BioMarin Pharmaceutical by 17.4% in the second 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 purchasing an additional 28,837 shares during the period. E Fund Management Co. Ltd. increased its position in BioMarin Pharmaceutical by 167.4% during the second quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company’s stock worth $1,110,000 after purchasing an additional 8,438 shares during the last quarter. Finally, Tidal Investments LLC raised its stake 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 purchasing an additional 6,906 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Up 1.1 %

Shares of NASDAQ BMRN opened at $66.60 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 4.27. BioMarin Pharmaceutical Inc. has a 1 year low of $65.35 and a 1 year high of $99.56. The stock’s 50-day simple moving average is $75.13 and its 200-day simple moving average is $80.59. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of 39.88, a PEG ratio of 0.77 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results 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). 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 11.71% and a return on equity of 8.53%. The business’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 earnings per share. As a group, equities analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on BMRN. Piper Sandler boosted their price objective on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Stifel Nicolaus lowered their price target on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. William Blair downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Wednesday. Bank of America reduced their price objective 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. Finally, Raymond James reissued an “outperform” rating and set a $79.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.45.

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.