BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stock Holdings Increased by Bellevue Group AG

Bellevue Group AG grew its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 533.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 330,976 shares of the biotechnology company’s stock after buying an additional 278,744 shares during the period. Bellevue Group AG owned about 0.17% of BioMarin Pharmaceutical worth $23,264,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BMRN. Principal Financial Group Inc. boosted its holdings in BioMarin Pharmaceutical by 1,858.6% in the second quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company’s stock worth $53,470,000 after purchasing an additional 616,301 shares during the period. Vestal Point Capital LP bought a new position in shares of BioMarin Pharmaceutical in the 3rd quarter worth about $28,116,000. Assenagon Asset Management S.A. boosted its holdings in shares of BioMarin Pharmaceutical by 11,107.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 352,474 shares of the biotechnology company’s stock valued at $29,019,000 after buying an additional 349,329 shares during the period. Rhumbline Advisers grew its position in shares of BioMarin Pharmaceutical by 122.1% during the 2nd quarter. Rhumbline Advisers now owns 551,553 shares of the biotechnology company’s stock valued at $45,409,000 after buying an additional 303,207 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in BioMarin Pharmaceutical by 38.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company’s stock worth $85,178,000 after acquiring an additional 289,953 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $66.03 on Friday. The company has a 50-day moving average of $67.72 and a 200-day moving average of $77.90. The firm has a market cap of $12.58 billion, a price-to-earnings ratio of 39.54, a price-to-earnings-growth ratio of 0.64 and a beta of 0.31. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a twelve month low of $61.15 and a twelve month high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). The business had revenue of $746.00 million for the quarter, compared to the consensus estimate of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The company’s quarterly revenue was up 28.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.26 earnings per share. Analysts forecast that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Truist Financial lowered their target price on BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Canaccord Genuity Group dropped their target price on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $80.00 target price on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 30th. Wolfe Research initiated coverage on shares of BioMarin Pharmaceutical in a research report on Friday, November 15th. They set an “outperform” rating and a $95.00 price target for the company. Finally, Robert W. Baird cut their price objective on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.20.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the transaction, the executive vice president now directly owns 68,909 shares in the company, valued at $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.85% of the company’s stock.

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.