National Pension Service Acquires 13,878 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

National Pension Service raised its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 345,387 shares of the biotechnology company’s stock after acquiring an additional 13,878 shares during the quarter. National Pension Service owned approximately 0.18% of BioMarin Pharmaceutical worth $24,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of BMRN. Robeco Institutional Asset Management B.V. raised its stake in shares of BioMarin Pharmaceutical by 157.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 210,666 shares of the biotechnology company’s stock worth $14,808,000 after buying an additional 128,807 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of BioMarin Pharmaceutical by 102.1% in the third quarter. Janney Montgomery Scott LLC now owns 11,700 shares of the biotechnology company’s stock worth $822,000 after purchasing an additional 5,911 shares in the last quarter. Clear Creek Financial Management LLC bought a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter valued at $239,000. F M Investments LLC purchased a new position in shares of BioMarin Pharmaceutical during the 3rd quarter valued at $1,558,000. Finally, Voisard Asset Management Group Inc. increased its stake in BioMarin Pharmaceutical by 17.8% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 1,355 shares of the biotechnology company’s stock worth $95,000 after buying an additional 205 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Up 1.2 %

BMRN stock opened at $66.94 on Friday. BioMarin Pharmaceutical Inc. has a 12 month low of $65.35 and a 12 month high of $99.56. The firm’s 50-day moving average is $73.68 and its 200 day moving average is $80.10. The company has a market capitalization of $12.76 billion, a PE ratio of 40.08, a P/E/G ratio of 0.65 and a beta of 0.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The company had revenue of $746.00 million for the quarter, compared to the consensus estimate of $703.37 million. During the same period in the prior year, the firm posted $0.26 EPS. The business’s revenue was up 28.4% on a year-over-year basis. On average, research analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.47 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BMRN. Canaccord Genuity Group cut their price objective on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their price target on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Stifel Nicolaus dropped their price objective on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Bank of America reduced their target price on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Finally, Scotiabank reduced their price objective on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a research note on Tuesday, September 17th. Seven analysts have rated the stock with a hold rating, fifteen 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.16.

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.