BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. raised its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 504.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 859 shares of the biotechnology company’s stock after acquiring an additional 717 shares during the period. Blue Trust Inc.’s holdings in BioMarin Pharmaceutical were worth $60,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of BMRN. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 1.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock valued at $932,000 after purchasing an additional 130 shares during the last quarter. Quent Capital LLC lifted its stake in BioMarin Pharmaceutical by 58.9% during the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 145 shares in the last quarter. Grandfield & Dodd LLC boosted its holdings in shares of BioMarin Pharmaceutical by 1.6% in the first quarter. Grandfield & Dodd LLC now owns 16,127 shares of the biotechnology company’s stock worth $1,409,000 after buying an additional 255 shares during the period. AIA Group Ltd increased its position in shares of BioMarin Pharmaceutical by 7.0% in the first quarter. AIA Group Ltd now owns 4,076 shares of the biotechnology company’s stock worth $356,000 after acquiring an additional 266 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of BioMarin Pharmaceutical by 56.1% during the third quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock valued at $55,000 after acquiring an additional 281 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

NASDAQ BMRN opened at $65.89 on Friday. The firm has a market cap of $12.51 billion, a P/E ratio of 61.58, a price-to-earnings-growth ratio of 0.81 and a beta of 0.31. The stock’s 50-day moving average is $75.60 and its two-hundred day moving average is $80.84. BioMarin Pharmaceutical Inc. has a fifty-two week low of $65.35 and a fifty-two week high of $99.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 1.95.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. The company had revenue of $746.00 million during the quarter, compared to the consensus estimate of $703.37 million. During the same period in the previous year, the business posted $0.26 earnings per share. The firm’s revenue was up 28.4% on a year-over-year basis. On average, analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BMRN shares. Canaccord Genuity Group lowered their price objective on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday. Piper Sandler upped their price target on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. William Blair downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday. TD Cowen lowered their target price on BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, UBS Group increased their price target on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.67.

About BioMarin Pharmaceutical

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.