Canada Pension Plan Investment Board Has $19.80 Million Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Canada Pension Plan Investment Board trimmed its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 23.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 240,516 shares of the biotechnology company’s stock after selling 72,122 shares during the quarter. Canada Pension Plan Investment Board’s holdings in BioMarin Pharmaceutical were worth $19,802,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. AMI Asset Management Corp grew its stake in BioMarin Pharmaceutical by 51.9% in the 1st quarter. AMI Asset Management Corp now owns 346,189 shares of the biotechnology company’s stock valued at $30,236,000 after purchasing an additional 118,230 shares during the period. AGF Management Ltd. bought a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter worth approximately $2,563,000. Fisher Asset Management LLC purchased a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $1,301,000. APG Asset Management US Inc. purchased a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $3,462,000. Finally, Bridgewater Associates LP raised its stake in BioMarin Pharmaceutical by 18.3% during the fourth quarter. Bridgewater Associates LP now owns 190,970 shares of the biotechnology company’s stock valued at $18,413,000 after buying an additional 29,576 shares during the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Stifel Nicolaus decreased their target price on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Royal Bank of Canada cut their target price on shares of BioMarin Pharmaceutical from $100.00 to $85.00 and set a “sector perform” rating for the company in a report on Tuesday, September 17th. StockNews.com raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $110.00 target price on shares of BioMarin Pharmaceutical in a research note on Monday, September 9th. Finally, Evercore ISI lifted their price objective on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. Eight equities research 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.84.

BioMarin Pharmaceutical Stock Down 1.0 %

BMRN opened at $70.69 on Monday. The business’s fifty day moving average is $85.57 and its two-hundred day moving average is $84.26. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05. The company has a market cap of $13.42 billion, a price-to-earnings ratio of 66.07, a PEG ratio of 1.03 and a beta of 0.32. BioMarin Pharmaceutical Inc. has a one year low of $68.83 and a one year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results 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%. Analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.4 EPS for the current fiscal 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.