Creative Planning Buys 2,475 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Creative Planning raised its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 20.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,300 shares of the biotechnology company’s stock after buying an additional 2,475 shares during the period. Creative Planning’s holdings in BioMarin Pharmaceutical were worth $1,005,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AGF Management Ltd. bought a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at about $2,563,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at about $5,627,000. Teachers Retirement System of The State of Kentucky grew its position in shares of BioMarin Pharmaceutical by 17.4% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 194,207 shares of the biotechnology company’s stock valued at $15,990,000 after buying an additional 28,837 shares during the last quarter. E Fund Management Co. Ltd. grew its position in shares of BioMarin Pharmaceutical by 167.4% in the 2nd quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company’s stock valued at $1,110,000 after buying an additional 8,438 shares during the last quarter. Finally, Tidal Investments LLC grew its position in shares of BioMarin Pharmaceutical by 65.5% in the 1st quarter. Tidal Investments LLC now owns 17,447 shares of the biotechnology company’s stock valued at $1,524,000 after buying an additional 6,906 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $66.60 on Friday. The company has a current ratio of 4.27, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $12.65 billion, a price-to-earnings ratio of 39.88, a PEG ratio of 0.77 and a beta of 0.31. The stock has a 50 day moving average of $75.13 and a 200 day moving average of $80.67. BioMarin Pharmaceutical Inc. has a 12 month low of $65.35 and a 12 month high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS 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 analysts’ expectations of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The business’s revenue was up 28.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.26 earnings per share. As a group, sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 2.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. TD Cowen cut their target price on BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Wells Fargo & Company cut their target price on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 17th. Bank of America cut their target price on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Robert W. Baird cut their target price on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Raymond James restated an “outperform” rating and set a $79.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average target price of $93.67.

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.