APG Asset Management US Inc. Acquires 1,328 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

APG Asset Management US Inc. boosted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,808 shares of the biotechnology company’s stock after acquiring an additional 1,328 shares during the quarter. APG Asset Management US Inc.’s holdings in BioMarin Pharmaceutical were worth $4,419,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in shares of BioMarin Pharmaceutical by 144.3% during the second quarter. AQR Capital Management LLC now owns 55,372 shares of the biotechnology company’s stock valued at $4,559,000 after purchasing an additional 32,709 shares during the period. Troluce Capital Advisors LLC bought a new stake in BioMarin Pharmaceutical during the 2nd quarter valued at about $5,895,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in BioMarin Pharmaceutical by 61.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 36,343 shares of the biotechnology company’s stock valued at $2,992,000 after buying an additional 13,853 shares in the last quarter. Xponance Inc. boosted its position in BioMarin Pharmaceutical by 66.5% in the 2nd quarter. Xponance Inc. now owns 29,307 shares of the biotechnology company’s stock valued at $2,413,000 after buying an additional 11,709 shares during the period. Finally, Magnetar Financial LLC bought a new position in BioMarin Pharmaceutical in the 2nd quarter worth about $726,000. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $70.24 on Friday. BioMarin Pharmaceutical Inc. has a 12-month low of $67.75 and a 12-month high of $99.56. The business’s fifty day simple moving average is $84.62 and its 200-day simple moving average is $83.92. 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 company has a market cap of $13.34 billion, a PE ratio of 65.65, a PEG ratio of 0.80 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced 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 return on equity of 6.91% and a net margin of 9.91%. The firm had revenue of $712.03 million for the quarter, compared to the consensus estimate of $660.51 million. Analysts expect that BioMarin Pharmaceutical Inc. will post 2.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on BMRN shares. JPMorgan Chase & Co. lifted their price target on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Bank of America decreased their target price 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. StockNews.com raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $110.00 price objective on shares of BioMarin Pharmaceutical in a report on Monday, September 9th. Finally, Wells Fargo & Company dropped their target price 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. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus price target 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.