Amalgamated Bank Buys 85,177 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Amalgamated Bank lifted its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 792.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 95,922 shares of the biotechnology company’s stock after acquiring an additional 85,177 shares during the period. Amalgamated Bank owned 0.05% of BioMarin Pharmaceutical worth $7,897,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Primecap Management Co. CA raised its position in shares of BioMarin Pharmaceutical by 0.4% in the second 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 period. Vanguard Group Inc. lifted its position in BioMarin Pharmaceutical by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 18,117,108 shares of the biotechnology company’s stock worth $1,582,348,000 after acquiring an additional 67,046 shares during the last quarter. Capital Research Global Investors boosted its holdings in 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 valued at $1,038,907,000 after acquiring an additional 4,756,671 shares during the period. Avoro Capital Advisors LLC grew its position in shares of BioMarin Pharmaceutical by 1.5% in the first quarter. Avoro Capital Advisors LLC now owns 4,365,000 shares of the biotechnology company’s stock valued at $381,239,000 after purchasing an additional 65,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of BioMarin Pharmaceutical by 33.3% in 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 purchasing an additional 401,152 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Trading Up 0.4 %

Shares of BMRN stock opened at $71.41 on Friday. 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 company has a market capitalization of $13.56 billion, a P/E ratio of 66.74, a P/E/G ratio of 1.03 and a beta of 0.32. BioMarin Pharmaceutical Inc. has a 12-month low of $68.83 and a 12-month high of $99.56. The firm has a 50-day moving average price of $85.86 and a 200 day moving average price of $84.40.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BMRN. Sanford C. Bernstein decreased their target price on BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday. Truist Financial lowered their price objective on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday. William Blair upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. raised their price target on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Finally, TD Cowen dropped their price objective on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and a consensus price target of $98.84.

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.