BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Bought by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co raised its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 57.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,942 shares of the biotechnology company’s stock after acquiring an additional 4,000 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in BioMarin Pharmaceutical were worth $901,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. grew 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 acquiring an additional 130 shares during the period. Quent Capital LLC grew its stake in shares of BioMarin Pharmaceutical by 58.9% during the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 145 shares during the period. Yousif Capital Management LLC increased its holdings in shares of BioMarin Pharmaceutical by 8.9% in the 1st quarter. Yousif Capital Management LLC now owns 2,414 shares of the biotechnology company’s stock valued at $211,000 after purchasing an additional 198 shares in the last quarter. Integrated Advisors Network LLC increased its holdings in shares of BioMarin Pharmaceutical by 6.2% in the 4th quarter. Integrated Advisors Network LLC now owns 3,533 shares of the biotechnology company’s stock valued at $341,000 after purchasing an additional 206 shares in the last quarter. Finally, SteelPeak Wealth LLC lifted its stake in shares of BioMarin Pharmaceutical by 10.9% in the first quarter. SteelPeak Wealth LLC now owns 2,498 shares of the biotechnology company’s stock valued at $218,000 after purchasing an additional 246 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $71.14 on Thursday. The company has a market cap of $13.51 billion, a P/E ratio of 66.49, a P/E/G ratio of 1.03 and a beta of 0.32. The business has a fifty day simple moving average of $86.11 and a 200-day simple moving average of $84.49. BioMarin Pharmaceutical Inc. has a 52 week low of $68.83 and a 52 week high of $99.56. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11.

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

Analyst Ratings Changes

A number of brokerages have issued reports on BMRN. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $93.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, September 13th. Sanford C. Bernstein decreased their target price on BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday. Royal Bank of Canada dropped their price target on BioMarin Pharmaceutical from $100.00 to $85.00 and set a “sector perform” rating for the company in a research report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $110.00 price target on shares of BioMarin Pharmaceutical in a research note on Monday, September 9th. Finally, StockNews.com raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Eight research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $98.84.

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.