Royal London Asset Management Ltd. Boosts Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Royal London Asset Management Ltd. lifted its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,287 shares of the biotechnology company’s stock after buying an additional 1,090 shares during the quarter. Royal London Asset Management Ltd.’s holdings in BioMarin Pharmaceutical were worth $6,034,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Innealta Capital LLC acquired a new position in BioMarin Pharmaceutical during the second quarter worth $25,000. Quent Capital LLC raised its holdings in shares of BioMarin Pharmaceutical by 58.9% in the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 145 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth $43,000. Scarborough Advisors LLC acquired a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth $71,000. Finally, AM Squared Ltd acquired a new position in BioMarin Pharmaceutical in the second quarter valued at $66,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $84.90 on Friday. BioMarin Pharmaceutical Inc. has a 12-month low of $73.68 and a 12-month high of $99.56. The firm has a market capitalization of $16.12 billion, a price-to-earnings ratio of 79.35, a price-to-earnings-growth ratio of 1.03 and a beta of 0.32. The business has a 50 day simple moving average of $86.84 and a 200 day simple moving average of $84.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 1.95.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BMRN shares. Evercore ISI upped their target price on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. Canaccord Genuity Group reiterated a “hold” rating and issued a $93.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday. Scotiabank boosted their price target on BioMarin Pharmaceutical from $86.00 to $95.00 and gave the company a “sector perform” rating in a research report on Thursday, September 5th. Barclays lowered their price target on BioMarin Pharmaceutical from $111.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Finally, Baird R W downgraded BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 17th. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.11.

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.