Axa S.A. Sells 602,380 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Axa S.A. cut its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 51.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 573,071 shares of the biotechnology company’s stock after selling 602,380 shares during the period. Axa S.A.’s holdings in BioMarin Pharmaceutical were worth $47,181,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in BMRN. Troluce Capital Advisors LLC acquired a new stake in BioMarin Pharmaceutical during the 2nd quarter worth approximately $5,895,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in BioMarin Pharmaceutical by 61.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 36,343 shares of the biotechnology company’s stock worth $2,992,000 after buying an additional 13,853 shares during the period. Xponance Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 66.5% during the second quarter. Xponance Inc. now owns 29,307 shares of the biotechnology company’s stock worth $2,413,000 after buying an additional 11,709 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of BioMarin Pharmaceutical during the second quarter worth $726,000. Finally, Avoro Capital Advisors LLC boosted its position in shares of BioMarin Pharmaceutical by 4.4% in the second quarter. Avoro Capital Advisors LLC now owns 4,557,416 shares of the biotechnology company’s stock valued at $375,212,000 after acquiring an additional 192,416 shares during the period. Institutional investors own 98.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. William Blair raised shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Friday, August 30th. Sanford C. Bernstein lowered their target price on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, September 17th. Truist Financial cut their price target on BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. JPMorgan Chase & Co. raised their price objective on BioMarin Pharmaceutical from $111.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Finally, Royal Bank of Canada cut their target price on 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. 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 stock. According to data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and a consensus target price of $98.84.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $69.02 on Thursday. BioMarin Pharmaceutical Inc. has a 1 year low of $67.75 and a 1 year high of $99.56. 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 stock has a market cap of $13.11 billion, a price-to-earnings ratio of 64.51, a P/E/G ratio of 0.80 and a beta of 0.32. The company has a 50 day simple moving average of $84.93 and a 200 day simple moving average of $84.02.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.39. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. The company had revenue of $712.03 million during the quarter, compared to the consensus estimate of $660.51 million. Research analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.39 EPS for the current fiscal year.

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.