Bokf Na Acquires Shares of 375 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Bokf Na bought a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the second quarter, according to its most recent filing with the SEC. The fund bought 375 shares of the biotechnology company’s stock, valued at approximately $31,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors boosted its stake in BioMarin Pharmaceutical by 79.0% in the fourth quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company’s stock valued at $1,038,907,000 after acquiring an additional 4,756,671 shares during the last quarter. Norges Bank purchased a new position in BioMarin Pharmaceutical in the fourth quarter valued at approximately $324,098,000. Principal Financial Group Inc. grew its holdings in BioMarin Pharmaceutical by 1,858.6% during the second quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company’s stock valued at $53,470,000 after purchasing an additional 616,301 shares during the period. Avoro Capital Advisors LLC raised its stake in shares of BioMarin Pharmaceutical by 11.7% in the fourth quarter. Avoro Capital Advisors LLC now owns 4,300,000 shares of the biotechnology company’s stock valued at $414,606,000 after buying an additional 450,000 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of BioMarin Pharmaceutical by 33.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,605,983 shares of the biotechnology company’s stock valued at $154,850,000 after buying an additional 401,152 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $70.55 on Wednesday. The company has a market cap of $13.40 billion, a price-to-earnings ratio of 65.93, a PEG ratio of 1.03 and a beta of 0.32. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11. The firm’s fifty day moving average is $86.33 and its 200 day moving average is $84.59. BioMarin Pharmaceutical Inc. has a 52-week low of $68.83 and a 52-week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.39. The company had revenue of $712.03 million during 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%. Sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 2.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BMRN shares. TD Cowen decreased their price objective on BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Truist Financial lowered their price target on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday. Sanford C. Bernstein cut their price objective on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $93.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, September 13th. Eight investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.90.

About BioMarin Pharmaceutical

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.