BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Bought by Avoro Capital Advisors LLC

Avoro Capital Advisors LLC boosted its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 4.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,557,416 shares of the biotechnology company’s stock after buying an additional 192,416 shares during the period. BioMarin Pharmaceutical accounts for about 5.0% of Avoro Capital Advisors LLC’s portfolio, making the stock its 8th largest holding. Avoro Capital Advisors LLC owned 2.40% of BioMarin Pharmaceutical worth $375,212,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in BioMarin Pharmaceutical during the 2nd quarter worth approximately $25,000. BOKF NA purchased a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $31,000. Quent Capital LLC grew its position in shares of BioMarin Pharmaceutical by 58.9% in the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 145 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at approximately $43,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $47,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Down 1.0 %

Shares of NASDAQ BMRN opened at $70.69 on Monday. The stock has a market cap of $13.42 billion, a P/E ratio of 66.07, a PEG ratio of 1.03 and a beta of 0.32. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 12-month low of $68.83 and a 12-month high of $99.56. The business’s fifty day simple moving average is $85.57 and its 200-day simple moving average is $84.26.

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

Wall Street Analysts Forecast Growth

BMRN has been the subject of a number of analyst reports. Bank of America dropped their price target on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Wells Fargo & Company lowered their price objective on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, September 17th. Truist Financial lowered their price objective on BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. JPMorgan Chase & Co. increased their price objective on BioMarin Pharmaceutical from $111.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Finally, Sanford C. Bernstein lowered their price objective on BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, September 17th. Eight research 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 stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and an average target price of $98.84.

BioMarin Pharmaceutical Company 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.