BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Purchased by Acadian Asset Management LLC

Acadian Asset Management LLC boosted its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 377.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 12,113 shares of the biotechnology company’s stock after purchasing an additional 9,576 shares during the period. Acadian Asset Management LLC’s holdings in BioMarin Pharmaceutical were worth $994,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. New Mexico Educational Retirement Board acquired a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at approximately $3,170,000. Torray Investment Partners LLC increased its holdings in BioMarin Pharmaceutical by 13.6% in the 2nd quarter. Torray Investment Partners LLC now owns 16,855 shares of the biotechnology company’s stock valued at $1,388,000 after purchasing an additional 2,019 shares during the last quarter. EFG Asset Management Americas Corp. increased its holdings in BioMarin Pharmaceutical by 55.5% in the 2nd quarter. EFG Asset Management Americas Corp. now owns 30,807 shares of the biotechnology company’s stock valued at $2,536,000 after purchasing an additional 10,991 shares during the last quarter. Candriam S.C.A. increased its holdings in BioMarin Pharmaceutical by 38.7% in the 2nd quarter. Candriam S.C.A. now owns 525,138 shares of the biotechnology company’s stock valued at $43,233,000 after purchasing an additional 146,577 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in BioMarin Pharmaceutical by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 52,130 shares of the biotechnology company’s stock valued at $4,292,000 after buying an additional 320 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $69.86 on Tuesday. BioMarin Pharmaceutical Inc. has a 1-year low of $69.60 and a 1-year high of $99.56. The stock has a market cap of $13.27 billion, a PE ratio of 65.29, a price-to-earnings-growth ratio of 1.03 and a beta of 0.32. 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 firm has a fifty day moving average price of $86.58 and a 200 day moving average price of $84.71.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.39. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. The firm had revenue of $712.03 million during the quarter, compared to analysts’ expectations of $660.51 million. As a group, sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays decreased their price target on shares of BioMarin Pharmaceutical from $111.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, September 5th. Scotiabank raised their price target on shares of BioMarin Pharmaceutical from $86.00 to $95.00 and gave the company a “sector perform” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. raised their price target on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Finally, Piper Sandler raised their price target on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and an average price target of $106.11.

BioMarin Pharmaceutical 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.