Canada Pension Plan Investment Board Has $19.80 Million Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Canada Pension Plan Investment Board decreased its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 23.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 240,516 shares of the biotechnology company’s stock after selling 72,122 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.13% of BioMarin Pharmaceutical worth $19,802,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Primecap Management Co. CA lifted its holdings in BioMarin Pharmaceutical by 0.4% during the 2nd quarter. Primecap Management Co. CA now owns 18,790,085 shares of the biotechnology company’s stock valued at $1,546,988,000 after purchasing an additional 76,190 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 0.4% during the first quarter. Vanguard Group Inc. now owns 18,117,108 shares of the biotechnology company’s stock worth $1,582,348,000 after buying an additional 67,046 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of BioMarin Pharmaceutical by 79.0% during the fourth quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company’s stock worth $1,038,907,000 after buying an additional 4,756,671 shares in the last quarter. Avoro Capital Advisors LLC lifted its holdings in shares of BioMarin Pharmaceutical by 1.5% during the first quarter. Avoro Capital Advisors LLC now owns 4,365,000 shares of the biotechnology company’s stock worth $381,239,000 after buying an additional 65,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of BioMarin Pharmaceutical by 33.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,605,983 shares of the biotechnology company’s stock worth $154,850,000 after buying an additional 401,152 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $70.69 on Monday. The stock has a market cap of $13.42 billion, a P/E ratio of 66.07, a price-to-earnings-growth ratio of 1.03 and a beta of 0.32. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. The stock’s 50-day moving average is $85.57 and its 200-day moving average is $84.26. BioMarin Pharmaceutical Inc. has a 1-year low of $68.83 and a 1-year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.39. The company had revenue of $712.03 million for the quarter, compared to analyst estimates of $660.51 million. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. Equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BMRN has been the subject of a number of research reports. Bank of America dropped their target price on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Piper Sandler lifted their target price on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Wells Fargo & Company dropped their price target on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Evercore ISI boosted their price target on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $93.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, September 13th. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and an average target price of $98.84.

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.