Bokf Na bought a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Free Report) 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.
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.
View Our Latest Stock Analysis on BioMarin Pharmaceutical
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.
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