EFG Asset Management Americas Corp. Boosts Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

EFG Asset Management Americas Corp. grew its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 55.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,807 shares of the biotechnology company’s stock after acquiring an additional 10,991 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in BioMarin Pharmaceutical were worth $2,536,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BMRN. Innealta Capital LLC purchased a new position in shares of BioMarin Pharmaceutical in the second quarter worth $25,000. Quent Capital LLC boosted its holdings in BioMarin Pharmaceutical by 58.9% in 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 in the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in BioMarin Pharmaceutical by 135.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 249 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in BioMarin Pharmaceutical in the fourth quarter valued at $43,000. Finally, AM Squared Ltd bought a new stake in BioMarin Pharmaceutical in the second quarter valued at $66,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BMRN shares. Robert W. Baird cut shares of BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and cut their price target for the company from $104.00 to $72.00 in a report on Friday, May 17th. Scotiabank lifted their price target on shares of BioMarin Pharmaceutical from $86.00 to $95.00 and gave the company a “sector perform” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday. Finally, William Blair upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a report on Friday, August 30th. Eight analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $106.10.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN traded down $1.04 during mid-day trading on Friday, reaching $84.08. The company’s stock had a trading volume of 1,580,812 shares, compared to its average volume of 1,844,651. BioMarin Pharmaceutical Inc. has a 12-month low of $73.68 and a 12-month high of $99.56. The firm’s fifty day moving average price is $86.53 and its two-hundred day moving average price is $85.06. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. The stock has a market cap of $15.97 billion, a P/E ratio of 78.58 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data 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 the consensus estimate of $660.51 million. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. On average, equities analysts forecast that BioMarin Pharmaceutical Inc. will post 2.35 EPS for the current fiscal 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.