AIA Group Ltd Purchases 458 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

AIA Group Ltd grew its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 15.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,435 shares of the biotechnology company’s stock after buying an additional 458 shares during the period. AIA Group Ltd’s holdings in BioMarin Pharmaceutical were worth $241,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BMRN. Envestnet Portfolio Solutions Inc. raised its holdings in BioMarin Pharmaceutical by 1.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock worth $932,000 after buying an additional 130 shares during the last quarter. Quent Capital LLC raised its holdings in shares of 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 acquiring an additional 145 shares during the last quarter. Voisard Asset Management Group Inc. lifted its position 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 valued at $95,000 after acquiring an additional 205 shares in the last quarter. GAMMA Investing LLC lifted its position in BioMarin Pharmaceutical by 56.1% in the 3rd quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock valued at $55,000 after acquiring an additional 281 shares in the last quarter. Finally, Innealta Capital LLC bought a new stake in BioMarin Pharmaceutical during the 2nd quarter worth approximately $25,000. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $67.07 on Friday. The firm has a market cap of $12.78 billion, a P/E ratio of 40.16, a price-to-earnings-growth ratio of 0.65 and a beta of 0.31. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average is $72.71 and its 200-day moving average is $79.85. BioMarin Pharmaceutical Inc. has a 12-month low of $65.35 and a 12-month high of $99.56.

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 analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The business had revenue of $746.00 million for the quarter, compared to the consensus estimate of $703.37 million. During the same period in the previous year, the firm earned $0.26 EPS. The company’s revenue was up 28.4% compared to the same quarter last year. Sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 2.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BMRN. StockNews.com raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. William Blair downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Citigroup lowered their target price on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. TD Cowen cut their price target on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Barclays reduced their price objective on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $94.16.

BioMarin Pharmaceutical 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.