Signaturefd LLC Lowers Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Signaturefd LLC cut its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 38.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 882 shares of the biotechnology company’s stock after selling 559 shares during the quarter. Signaturefd LLC’s holdings in BioMarin Pharmaceutical were worth $73,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Capital Research Global Investors lifted its position in BioMarin Pharmaceutical by 79.0% during the fourth quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company’s stock valued at $1,038,907,000 after acquiring an additional 4,756,671 shares during the last quarter. Norges Bank purchased a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at $324,098,000. Principal Financial Group Inc. boosted its position in shares of BioMarin Pharmaceutical by 1,858.6% in the 2nd quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company’s stock worth $53,470,000 after purchasing an additional 616,301 shares in the last quarter. Avoro Capital Advisors LLC grew its stake in BioMarin Pharmaceutical by 11.7% during the 4th quarter. Avoro Capital Advisors LLC now owns 4,300,000 shares of the biotechnology company’s stock worth $414,606,000 after buying an additional 450,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in BioMarin Pharmaceutical by 33.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,605,983 shares of the biotechnology company’s stock valued at $154,850,000 after buying an additional 401,152 shares in the last quarter. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Stock Down 1.9 %

BMRN opened at $89.86 on Thursday. The company has a fifty day moving average of $86.46 and a two-hundred day moving average of $85.09. The stock has a market capitalization of $17.06 billion, a price-to-earnings ratio of 83.98 and a beta of 0.32. BioMarin Pharmaceutical Inc. has a fifty-two week low of $73.68 and a fifty-two week high of $99.56. 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 (NASDAQ:BMRN) last posted its earnings results on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.39. The firm had revenue of $712.03 million for 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%. On average, research analysts expect that BioMarin Pharmaceutical Inc. will post 2.35 earnings per share for the current year.

Analysts Set New Price Targets

BMRN has been the topic of a number of research analyst reports. Scotiabank boosted their price target on BioMarin Pharmaceutical from $85.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 6th. StockNews.com raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Barclays dropped their price objective on shares of BioMarin Pharmaceutical from $111.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $110.00 target price on shares of BioMarin Pharmaceutical in a research note on Monday, August 5th. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $89.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $105.26.

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.