Gulf International Bank UK Ltd Decreases Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Gulf International Bank UK Ltd lessened its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 5.1% during the 3rd quarter, Holdings Channel reports. The firm owned 14,824 shares of the biotechnology company’s stock after selling 797 shares during the quarter. Gulf International Bank UK Ltd’s holdings in BioMarin Pharmaceutical were worth $1,041,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Primecap Management Co. CA grew its holdings in shares of BioMarin Pharmaceutical by 0.4% during the second quarter. Primecap Management Co. CA now owns 18,790,085 shares of the biotechnology company’s stock valued at $1,546,988,000 after buying an additional 76,190 shares during the last quarter. Vanguard Group Inc. lifted its position in BioMarin Pharmaceutical by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 18,117,108 shares of the biotechnology company’s stock worth $1,582,348,000 after acquiring an additional 67,046 shares during the period. Avoro Capital Advisors LLC lifted 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 worth $375,212,000 after acquiring an additional 192,416 shares during the period. Dimensional Fund Advisors LP grew its stake in BioMarin Pharmaceutical by 38.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company’s stock valued at $85,178,000 after purchasing an additional 289,953 shares during the last quarter. Finally, DNB Asset Management AS increased its holdings in shares of BioMarin Pharmaceutical by 17.7% in the second quarter. DNB Asset Management AS now owns 1,021,054 shares of the biotechnology company’s stock valued at $84,063,000 after purchasing an additional 153,867 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Citigroup decreased their target price on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Piper Sandler increased their price objective on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Wedbush raised shares of BioMarin Pharmaceutical to a “strong-buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. lowered their price objective on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group lowered their target price on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.16.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $67.07 on Friday. BioMarin Pharmaceutical Inc. has a 1 year low of $65.35 and a 1 year high of $99.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. The firm has a market capitalization of $12.78 billion, a PE ratio of 40.16, a price-to-earnings-growth ratio of 0.65 and a beta of 0.31. The business has a 50 day simple moving average of $72.71 and a 200-day simple moving average of $79.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $703.37 million. During the same quarter in the previous year, the company earned $0.26 earnings per share. The firm’s quarterly revenue was up 28.4% compared to the same quarter last year. Equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.47 earnings per share for the current fiscal 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.