D. E. Shaw & Co. Inc. Sells 153,924 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

D. E. Shaw & Co. Inc. cut its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 36.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 268,374 shares of the biotechnology company’s stock after selling 153,924 shares during the period. D. E. Shaw & Co. Inc.’s holdings in BioMarin Pharmaceutical were worth $22,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Innealta Capital LLC bought a new position in shares of BioMarin Pharmaceutical in the second quarter worth about $25,000. BOKF NA purchased a new position in BioMarin Pharmaceutical in the 2nd quarter worth approximately $31,000. Quent Capital LLC boosted its stake in BioMarin Pharmaceutical by 58.9% in the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 145 shares during the period. Jones Financial Companies Lllp purchased a new stake in BioMarin Pharmaceutical during the 4th quarter valued at approximately $43,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of BioMarin Pharmaceutical during the second quarter valued at approximately $47,000. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Price Performance

Shares of BMRN stock opened at $70.58 on Monday. 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 company has a market capitalization of $13.40 billion, a P/E ratio of 65.96, a P/E/G ratio of 0.80 and a beta of 0.32. The company’s 50-day simple moving average is $84.09 and its two-hundred day simple moving average is $83.70. BioMarin Pharmaceutical Inc. has a one year low of $67.75 and a one year high of $99.56.

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

Analyst Ratings Changes

Several equities analysts recently weighed in on BMRN shares. Canaccord Genuity Group reaffirmed a “hold” rating and set a $93.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, September 13th. Piper Sandler raised their price objective on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Sanford C. Bernstein decreased their target price on BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 17th. Evercore ISI raised their price target on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $110.00 price objective on shares of BioMarin Pharmaceutical in a report on Monday, September 9th. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.