BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Bought by Primecap Management Co. CA

Primecap Management Co. CA grew its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,867,435 shares of the biotechnology company’s stock after purchasing an additional 77,350 shares during the period. Primecap Management Co. CA owned 0.10% of BioMarin Pharmaceutical worth $1,326,192,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Avoro Capital Advisors LLC boosted its position in shares of BioMarin Pharmaceutical by 4.4% in the second quarter. Avoro Capital Advisors LLC now owns 4,557,416 shares of the biotechnology company’s stock worth $375,212,000 after acquiring an additional 192,416 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of BioMarin Pharmaceutical by 38.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company’s stock worth $85,178,000 after acquiring an additional 289,953 shares during the last quarter. DNB Asset Management AS boosted its position in shares of BioMarin Pharmaceutical by 17.7% in the second quarter. DNB Asset Management AS now owns 1,021,054 shares of the biotechnology company’s stock worth $84,063,000 after acquiring an additional 153,867 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of BioMarin Pharmaceutical by 1,858.6% in the second quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company’s stock worth $53,470,000 after acquiring an additional 616,301 shares during the last quarter. Finally, Fiera Capital Corp lifted its position in BioMarin Pharmaceutical by 1.1% during the second quarter. Fiera Capital Corp now owns 622,953 shares of the biotechnology company’s stock valued at $51,288,000 after buying an additional 7,009 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total transaction of $350,300.86. Following the completion of the transaction, the executive vice president now owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.85% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on BMRN shares. Stifel Nicolaus reduced their price target on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Wolfe Research started coverage on shares of BioMarin Pharmaceutical in a research report on Friday, November 15th. They set an “outperform” rating and a $95.00 price target on the stock. Robert W. Baird reduced their price target on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Bank of America reduced 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 report on Tuesday, September 17th. Finally, Wedbush raised shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Monday, November 4th. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $94.20.

BioMarin Pharmaceutical Stock Up 1.0 %

BMRN stock opened at $62.56 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. BioMarin Pharmaceutical Inc. has a 1-year low of $61.15 and a 1-year high of $99.56. The firm has a fifty day moving average price of $69.08 and a two-hundred day moving average price of $78.70. The firm has a market cap of $11.92 billion, a price-to-earnings ratio of 37.46, a PEG ratio of 0.63 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The business had revenue of $746.00 million for the quarter, compared to the consensus estimate of $703.37 million. During the same quarter in the previous year, the firm earned $0.26 EPS. The firm’s revenue for the quarter was up 28.4% on a year-over-year basis. Research analysts predict that BioMarin Pharmaceutical Inc. will post 2.47 EPS for the current year.

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.