Creative Planning Raises Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Creative Planning grew its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 4.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,825 shares of the biotechnology company’s stock after acquiring an additional 524 shares during the period. Creative Planning’s holdings in BioMarin Pharmaceutical were worth $974,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its position in BioMarin Pharmaceutical by 1,858.6% during the second quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company’s stock worth $53,470,000 after acquiring an additional 616,301 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in BioMarin Pharmaceutical by 33.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,605,983 shares of the biotechnology company’s stock worth $154,850,000 after acquiring an additional 401,152 shares during the last quarter. Assenagon Asset Management S.A. raised its position in BioMarin Pharmaceutical by 11,107.4% during the second quarter. Assenagon Asset Management S.A. now owns 352,474 shares of the biotechnology company’s stock worth $29,019,000 after acquiring an additional 349,329 shares during the last quarter. Vanguard Group Inc. raised its position in BioMarin Pharmaceutical by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 18,050,062 shares of the biotechnology company’s stock worth $1,740,387,000 after acquiring an additional 348,852 shares during the last quarter. Finally, Rhumbline Advisers raised its position in BioMarin Pharmaceutical by 122.1% during the second quarter. Rhumbline Advisers now owns 551,553 shares of the biotechnology company’s stock worth $45,409,000 after acquiring an additional 303,207 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BMRN shares. Canaccord Genuity Group reissued a “hold” rating and issued a $93.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, September 13th. Sanford C. Bernstein cut their price objective on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, September 17th. Truist Financial cut their price objective on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. JPMorgan Chase & Co. boosted their price objective on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Finally, William Blair raised shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Friday, August 30th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus price target of $96.40.

BioMarin Pharmaceutical Price Performance

BMRN opened at $69.85 on Friday. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 52-week low of $67.75 and a 52-week high of $99.56. The company has a 50 day moving average of $81.65 and a two-hundred day moving average of $82.86. The company has a market cap of $13.26 billion, a P/E ratio of 65.23, a P/E/G ratio of 0.80 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results 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. The business had revenue of $712.03 million during the quarter, compared to the consensus estimate of $660.51 million. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. On average, analysts expect that BioMarin Pharmaceutical Inc. will post 2.39 earnings per share for the current year.

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.