Primecap Management Co. CA Purchases 76,190 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Primecap Management Co. CA boosted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,790,085 shares of the biotechnology company’s stock after buying an additional 76,190 shares during the quarter. BioMarin Pharmaceutical makes up approximately 1.1% of Primecap Management Co. CA’s portfolio, making the stock its 23rd largest holding. Primecap Management Co. CA owned about 9.90% of BioMarin Pharmaceutical worth $1,546,988,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in BioMarin Pharmaceutical during the second quarter valued at about $25,000. BOKF NA bought a new position in BioMarin Pharmaceutical during the second quarter valued at approximately $31,000. Quent Capital LLC grew its position in 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 bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth approximately $43,000. Finally, AM Squared Ltd bought a new position in shares of BioMarin Pharmaceutical in the second quarter worth approximately $66,000. Institutional investors own 98.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BMRN. TD Cowen dropped their price target on BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Scotiabank lifted their price target on BioMarin Pharmaceutical from $86.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 5th. StockNews.com upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Evercore ISI lifted their price objective on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, August 6th. Finally, William Blair upgraded BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Friday, August 30th. 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $106.11.

BioMarin Pharmaceutical Trading Down 17.7 %

BMRN opened at $69.86 on Tuesday. The company has a market cap of $13.27 billion, a P/E ratio of 65.29, a PEG ratio of 1.03 and a beta of 0.32. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05. BioMarin Pharmaceutical Inc. has a one year low of $69.60 and a one year high of $99.56. The business’s 50-day simple moving average is $86.58 and its 200-day simple moving average is $84.71.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 earnings per share for the quarter, topping 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 return on equity of 6.91% and a net margin of 9.91%. As a group, equities research analysts expect that BioMarin Pharmaceutical Inc. will post 2.4 EPS for the current fiscal year.

BioMarin Pharmaceutical Company 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.