Mutual of America Capital Management LLC Purchases Shares of 108,713 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Mutual of America Capital Management LLC acquired a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 108,713 shares of the biotechnology company’s stock, valued at approximately $8,950,000. Mutual of America Capital Management LLC owned approximately 0.06% of BioMarin Pharmaceutical at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Primecap Management Co. CA increased its stake in BioMarin Pharmaceutical by 0.4% in the 2nd quarter. Primecap Management Co. CA now owns 18,790,085 shares of the biotechnology company’s stock worth $1,546,988,000 after buying an additional 76,190 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of BioMarin Pharmaceutical by 38.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company’s stock worth $85,178,000 after purchasing an additional 289,953 shares in the last quarter. Plato Investment Management Ltd purchased a new stake in shares of BioMarin Pharmaceutical during the second quarter worth about $417,000. WINTON GROUP Ltd bought a new stake in BioMarin Pharmaceutical during the 2nd quarter valued at approximately $509,000. Finally, LWM Advisory Services LLC bought a new position in BioMarin Pharmaceutical in the 2nd quarter worth approximately $289,000. 98.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BMRN. Royal Bank of Canada reduced their price objective on shares of BioMarin Pharmaceutical from $100.00 to $85.00 and set a “sector perform” rating on the stock in a research report on Tuesday. Bank of America reduced their price target on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday. William Blair raised shares of BioMarin Pharmaceutical to a “strong-buy” rating in a report on Friday, August 30th. Truist Financial reduced their target price on BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Wells Fargo & Company dropped their price target on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $98.84.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $71.14 on Thursday. BioMarin Pharmaceutical Inc. has a 12-month low of $68.83 and a 12-month high of $99.56. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $86.11 and a 200-day moving average price of $84.49. The firm has a market capitalization of $13.51 billion, a PE ratio of 66.49, a price-to-earnings-growth ratio of 1.03 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.39. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. The business had revenue of $712.03 million during the quarter, compared to the consensus estimate of $660.51 million. As a group, equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 2.4 EPS for the current year.

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.