E Fund Management Co. Ltd. Has $1.11 Million Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

E Fund Management Co. Ltd. grew its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 167.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 13,480 shares of the biotechnology company’s stock after buying an additional 8,438 shares during the period. E Fund Management Co. Ltd.’s holdings in BioMarin Pharmaceutical were worth $1,110,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. boosted its holdings in BioMarin Pharmaceutical by 1.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock worth $932,000 after acquiring an additional 130 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of 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 purchasing an additional 145 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in shares of BioMarin Pharmaceutical by 8.9% in the first quarter. Yousif Capital Management LLC now owns 2,414 shares of the biotechnology company’s stock valued at $211,000 after purchasing an additional 198 shares in the last quarter. Integrated Advisors Network LLC lifted its holdings in shares of BioMarin Pharmaceutical by 6.2% in the fourth quarter. Integrated Advisors Network LLC now owns 3,533 shares of the biotechnology company’s stock valued at $341,000 after purchasing an additional 206 shares in the last quarter. Finally, SteelPeak Wealth LLC lifted its holdings in shares of BioMarin Pharmaceutical by 10.9% in the first quarter. SteelPeak Wealth LLC now owns 2,498 shares of the biotechnology company’s stock valued at $218,000 after purchasing an additional 246 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BMRN shares. Canaccord Genuity Group restated a “hold” rating and issued a $93.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, September 13th. Bank of America dropped their target price on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday. Scotiabank dropped their target price on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a report on Tuesday. Wells Fargo & Company dropped their target price on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, TD Cowen decreased their price target on BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.84.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $71.14 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 1.95. The business has a fifty day simple moving average of $86.11 and a two-hundred day simple moving average of $84.49. BioMarin Pharmaceutical Inc. has a 1 year low of $68.83 and a 1 year high of $99.56. The company has a market capitalization of $13.51 billion, a P/E ratio of 66.49, a P/E/G ratio of 1.03 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.39. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. The business had revenue of $712.03 million during the quarter, compared to the consensus estimate of $660.51 million. On average, analysts expect that BioMarin Pharmaceutical Inc. will post 2.4 earnings per share for the current 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.