BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Purchased by FORA Capital LLC

FORA Capital LLC increased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 199.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,399 shares of the biotechnology company’s stock after acquiring an additional 16,926 shares during the quarter. FORA Capital LLC’s holdings in BioMarin Pharmaceutical were worth $1,785,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA acquired a new stake in shares of BioMarin Pharmaceutical in the third quarter valued at about $254,000. Bridgewater Associates LP raised its position in shares of BioMarin Pharmaceutical by 306.8% during the 3rd quarter. Bridgewater Associates LP now owns 142,314 shares of the biotechnology company’s stock worth $10,003,000 after purchasing an additional 107,330 shares during the last quarter. Quantbot Technologies LP purchased a new position in BioMarin Pharmaceutical in the 3rd quarter valued at about $171,000. FMR LLC boosted its holdings in BioMarin Pharmaceutical by 21.7% in the 3rd quarter. FMR LLC now owns 206,538 shares of the biotechnology company’s stock worth $14,518,000 after buying an additional 36,877 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in BioMarin Pharmaceutical during the 3rd quarter worth approximately $1,010,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total value of $350,300.86. Following the sale, the executive vice president now directly owns 68,909 shares in the company, valued at approximately $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.85% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BMRN shares. Evercore ISI decreased their target price on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Stifel Nicolaus dropped their target price on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Piper Sandler lifted their price target on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Raymond James reissued an “outperform” rating and issued a $79.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, October 10th. Finally, Truist Financial cut their price objective on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $94.20.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock opened at $65.42 on Thursday. The stock has a market capitalization of $12.47 billion, a price-to-earnings ratio of 39.17, a price-to-earnings-growth ratio of 0.64 and a beta of 0.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. The business has a 50-day moving average of $67.93 and a 200 day moving average of $78.10. BioMarin Pharmaceutical Inc. has a 12 month low of $61.15 and a 12 month high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate 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%. The company’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.26 EPS. As a group, sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current 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.