BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co cut its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,883 shares of the biotechnology company’s stock after selling 236 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in BioMarin Pharmaceutical were worth $1,390,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BMRN. Innealta Capital LLC purchased a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at approximately $25,000. BOKF NA purchased a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at $31,000. Quent Capital LLC boosted its stake in shares of BioMarin Pharmaceutical by 58.9% during the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 145 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in BioMarin Pharmaceutical during the 4th quarter worth about $43,000. Finally, AM Squared Ltd acquired a new position in BioMarin Pharmaceutical in the 2nd quarter valued at about $66,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BMRN has been the topic of several analyst reports. Bank of America decreased their price target on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday. Scotiabank lowered their target price on shares of BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating for the company in a research note on Tuesday. TD Cowen cut their price target 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 decreased their price objective on BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $110.00 price objective on shares of BioMarin Pharmaceutical in a research report on Monday, September 9th. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price of $98.84.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $70.69 on Friday. The firm has a fifty day moving average of $85.57 and a 200-day moving average of $84.29. BioMarin Pharmaceutical Inc. has a 52-week low of $68.83 and a 52-week high of $99.56. 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 has a market capitalization of $13.42 billion, a P/E ratio of 66.07, a PEG ratio of 1.03 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.38 by $0.39. The company had revenue of $712.03 million for the quarter, compared to analyst estimates of $660.51 million. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. As a group, analysts predict that BioMarin Pharmaceutical Inc. will post 2.4 EPS for the current 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.