Vanguard Personalized Indexing Management LLC Has $875,000 Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Vanguard Personalized Indexing Management LLC raised its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 14.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,631 shares of the biotechnology company’s stock after purchasing an additional 1,356 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in BioMarin Pharmaceutical were worth $875,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Capital Research Global Investors grew its stake in BioMarin Pharmaceutical by 79.0% in the 4th quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company’s stock valued at $1,038,907,000 after buying an additional 4,756,671 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of BioMarin Pharmaceutical by 1,858.6% in the second quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company’s stock worth $53,470,000 after purchasing an additional 616,301 shares during the period. Avoro Capital Advisors LLC lifted its position in shares of BioMarin Pharmaceutical by 11.7% during the 4th quarter. Avoro Capital Advisors LLC now owns 4,300,000 shares of the biotechnology company’s stock worth $414,606,000 after purchasing an additional 450,000 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in BioMarin Pharmaceutical by 33.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,605,983 shares of the biotechnology company’s stock valued at $154,850,000 after purchasing an additional 401,152 shares during the period. Finally, Third Point LLC bought a new stake in BioMarin Pharmaceutical during the 4th quarter valued at approximately $37,122,000. Institutional investors own 98.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $110.00 price target on shares of BioMarin Pharmaceutical in a report on Monday, September 9th. Stifel Nicolaus reduced their price target on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Wells Fargo & Company dropped their price objective on shares of BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, September 17th. Piper Sandler increased their target price on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Finally, StockNews.com upgraded 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $98.84.

BioMarin Pharmaceutical Stock Up 0.5 %

BMRN opened at $69.48 on Wednesday. The firm’s 50-day simple moving average is $84.93 and its 200-day simple moving average is $84.02. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05. BioMarin Pharmaceutical Inc. has a twelve month low of $67.75 and a twelve month high of $99.56. The firm has a market cap of $13.19 billion, a price-to-earnings ratio of 64.93, a PEG ratio of 1.03 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share 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 for the quarter, compared to analyst estimates of $660.51 million. Equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.4 EPS for the current fiscal year.

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.