BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Acquired by Captrust Financial Advisors

Captrust Financial Advisors lifted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 34.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,900 shares of the biotechnology company’s stock after acquiring an additional 2,770 shares during the period. Captrust Financial Advisors’ holdings in BioMarin Pharmaceutical were worth $766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Primecap Management Co. CA boosted its holdings in shares of BioMarin Pharmaceutical by 0.4% during the 3rd quarter. Primecap Management Co. CA now owns 18,867,435 shares of the biotechnology company’s stock worth $1,326,192,000 after purchasing an additional 77,350 shares during the last quarter. Avoro Capital Advisors LLC lifted its position in BioMarin Pharmaceutical by 4.4% during the second quarter. Avoro Capital Advisors LLC now owns 4,557,416 shares of the biotechnology company’s stock worth $375,212,000 after buying an additional 192,416 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in BioMarin Pharmaceutical by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,401,628 shares of the biotechnology company’s stock worth $98,520,000 after buying an additional 55,699 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in BioMarin Pharmaceutical by 38.9% in 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 buying an additional 289,953 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of BioMarin Pharmaceutical by 1,858.6% in the 2nd 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. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BMRN shares. UBS Group boosted their price target on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Evercore ISI decreased their target price on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. William Blair downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Wedbush raised shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Monday, November 4th. Finally, Citigroup lowered their price objective on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and a consensus target price of $94.20.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $66.43 on Wednesday. The firm has a 50 day moving average of $67.23 and a two-hundred day moving average of $77.41. The stock has a market capitalization of $12.66 billion, a PE ratio of 39.78, a P/E/G ratio of 0.66 and a beta of 0.29. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 52 week low of $61.15 and a 52 week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released 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 company had revenue of $746.00 million during the quarter, compared to analysts’ expectations of $703.37 million. During the same quarter last year, the business posted $0.26 earnings per share. The company’s revenue for the quarter was up 28.4% on a year-over-year basis. On average, research analysts predict that BioMarin Pharmaceutical Inc. will post 2.49 EPS for the current fiscal year.

Insider Transactions at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total transaction of $350,300.86. Following the completion of the sale, the executive vice president now directly owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. The trade was a 7.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.85% of the company’s stock.

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.