Renaissance Technologies LLC Decreases Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Renaissance Technologies LLC reduced its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 78.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,200 shares of the biotechnology company’s stock after selling 425,871 shares during the period. Renaissance Technologies LLC owned 0.06% of BioMarin Pharmaceutical worth $9,567,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BMRN. Dimensional Fund Advisors LP raised its stake in BioMarin Pharmaceutical by 38.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company’s stock worth $85,178,000 after buying an additional 289,953 shares in the last quarter. Plato Investment Management Ltd purchased a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth approximately $417,000. WINTON GROUP Ltd bought a new position in shares of BioMarin Pharmaceutical in the 2nd quarter worth approximately $509,000. LWM Advisory Services LLC purchased a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at approximately $289,000. Finally, Federated Hermes Inc. bought a new stake in shares of BioMarin Pharmaceutical during the second quarter valued at approximately $1,660,000. 98.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BMRN. Evercore ISI increased their price target on shares of BioMarin Pharmaceutical from $113.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. StockNews.com raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on BioMarin Pharmaceutical from $111.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Bank of America reduced their price objective on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Finally, Wells Fargo & Company dropped their target price on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, September 17th. Eight 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.84.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $69.13 on Tuesday. BioMarin Pharmaceutical Inc. has a 52-week low of $68.83 and a 52-week high of $99.56. The company has a market cap of $13.13 billion, a price-to-earnings ratio of 64.61, a PEG ratio of 1.03 and a beta of 0.32. The firm’s fifty day moving average is $85.26 and its 200 day moving average is $84.14. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.77 EPS 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 the consensus estimate of $660.51 million. Sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 2.4 EPS for the current fiscal year.

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.