Canada Pension Plan Investment Board decreased its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Free Report) by 18.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 262,171 shares of the biotechnology company’s stock after selling 57,800 shares during the quarter. Canada Pension Plan Investment Board owned about 0.14% of BioMarin Pharmaceutical worth $22,725,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in BMRN. Norges Bank purchased a new position in BioMarin Pharmaceutical in the 4th quarter worth $285,013,000. Pictet Asset Management SA lifted its holdings in shares of BioMarin Pharmaceutical by 39.0% during the first quarter. Pictet Asset Management SA now owns 2,054,522 shares of the biotechnology company’s stock worth $199,782,000 after purchasing an additional 576,001 shares during the period. Avoro Capital Advisors LLC boosted its position in BioMarin Pharmaceutical by 11.0% in the first quarter. Avoro Capital Advisors LLC now owns 3,945,000 shares of the biotechnology company’s stock valued at $383,612,000 after buying an additional 389,445 shares during the last quarter. Polar Capital Holdings Plc increased its holdings in BioMarin Pharmaceutical by 300.0% in the 1st quarter. Polar Capital Holdings Plc now owns 500,000 shares of the biotechnology company’s stock worth $38,550,000 after buying an additional 375,000 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in BioMarin Pharmaceutical by 39.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,294,047 shares of the biotechnology company’s stock worth $125,834,000 after buying an additional 366,211 shares during the last quarter. Hedge funds and other institutional investors own 92.78% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have recently weighed in on BMRN. Scotiabank initiated coverage on shares of BioMarin Pharmaceutical in a research note on Thursday, July 27th. They issued a “sector perform” rating and a $95.00 price objective on the stock. Stifel Nicolaus dropped their target price on BioMarin Pharmaceutical from $118.00 to $108.00 and set a “buy” rating on the stock in a report on Tuesday, August 1st. Piper Sandler decreased their price target on BioMarin Pharmaceutical from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, November 2nd. Sanford C. Bernstein raised shares of BioMarin Pharmaceutical from an “underperform” rating to a “market perform” rating and set a $82.00 price objective on the stock in a research note on Monday, October 23rd. Finally, Barclays cut their target price on shares of BioMarin Pharmaceutical from $125.00 to $111.00 and set an “overweight” rating for the company in a report on Thursday, November 2nd. Nine analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $114.43.
BioMarin Pharmaceutical Trading Up 1.8 %
Shares of BMRN opened at $84.86 on Wednesday. The firm’s fifty day moving average is $85.92 and its two-hundred day moving average is $89.10. The stock has a market cap of $15.99 billion, a PE ratio of 110.21, a price-to-earnings-growth ratio of 1.30 and a beta of 0.37. The company has a quick ratio of 1.65, a current ratio of 2.54 and a debt-to-equity ratio of 0.12. BioMarin Pharmaceutical Inc. has a 52-week low of $76.02 and a 52-week high of $117.77.
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.
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