Profund Advisors LLC Acquires 28,505 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Profund Advisors LLC raised its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 176.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 44,663 shares of the biotechnology company’s stock after acquiring an additional 28,505 shares during the quarter. Profund Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $3,677,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BMRN. Innealta Capital LLC acquired a new position in shares of BioMarin Pharmaceutical in the second quarter worth approximately $25,000. BOKF NA bought a new stake in BioMarin Pharmaceutical during the second quarter valued at $31,000. Quent Capital LLC grew its holdings in BioMarin Pharmaceutical by 58.9% during the 2nd 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 period. Jones Financial Companies Lllp bought a new position in shares of BioMarin Pharmaceutical in the 4th quarter worth about $43,000. Finally, Scarborough Advisors LLC bought a new position in shares of BioMarin Pharmaceutical in the 4th quarter worth about $71,000. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $70.69 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 1.95. The firm has a market cap of $13.42 billion, a PE ratio of 66.07, a PEG ratio of 1.03 and a beta of 0.32. BioMarin Pharmaceutical Inc. has a 1 year low of $68.83 and a 1 year high of $99.56. The stock’s fifty day moving average price is $85.57 and its two-hundred day moving average price is $84.26.

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 business had revenue of $712.03 million for the quarter, compared to the consensus estimate of $660.51 million. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. On average, equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 2.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BMRN shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $110.00 price objective on shares of BioMarin Pharmaceutical in a research report on Monday, September 9th. Stifel Nicolaus reduced their price target on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. JPMorgan Chase & Co. upped their price objective 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. Royal Bank of Canada reduced their target price on BioMarin Pharmaceutical from $100.00 to $85.00 and set a “sector perform” rating for the company in a research note on Tuesday, September 17th. Finally, Wells Fargo & Company dropped their price target on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 17th. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.