Troluce Capital Advisors LLC Buys Shares of 71,600 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Troluce Capital Advisors LLC purchased a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 71,600 shares of the biotechnology company’s stock, valued at approximately $5,895,000.

A number of other large investors also recently modified their holdings of BMRN. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in BioMarin Pharmaceutical by 61.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 36,343 shares of the biotechnology company’s stock worth $2,992,000 after acquiring an additional 13,853 shares during the period. Xponance Inc. raised its position in shares of BioMarin Pharmaceutical by 66.5% during the 2nd quarter. Xponance Inc. now owns 29,307 shares of the biotechnology company’s stock worth $2,413,000 after purchasing an additional 11,709 shares during the period. Magnetar Financial LLC bought a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter worth approximately $726,000. Avoro Capital Advisors LLC boosted its position in BioMarin Pharmaceutical by 4.4% during the 2nd quarter. Avoro Capital Advisors LLC now owns 4,557,416 shares of the biotechnology company’s stock valued at $375,212,000 after purchasing an additional 192,416 shares during the period. Finally, Gabelli Funds LLC grew its stake in BioMarin Pharmaceutical by 16.1% during the 2nd quarter. Gabelli Funds LLC now owns 8,039 shares of the biotechnology company’s stock worth $662,000 after buying an additional 1,114 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Trading Up 0.5 %

BioMarin Pharmaceutical stock opened at $69.48 on Wednesday. The firm has a market cap of $13.19 billion, a price-to-earnings ratio of 64.93, a price-to-earnings-growth ratio of 1.03 and a beta of 0.32. BioMarin Pharmaceutical Inc. has a 1 year low of $67.75 and a 1 year high of $99.56. The firm’s 50 day moving average price is $84.93 and its two-hundred day moving average price is $84.02. 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 issued 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. The business 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 predict that BioMarin Pharmaceutical Inc. will post 2.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BMRN has been the subject of several recent research reports. TD Cowen lowered their price target on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Royal Bank of Canada decreased 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 research report on Tuesday, September 17th. Scotiabank cut their price target on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a report on Tuesday, September 17th. Bank of America decreased their price objective on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $110.00 target price on shares of BioMarin Pharmaceutical in a research note on Monday, September 9th. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and an average target price of $98.84.

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.