APG Asset Management N.V. increased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 37.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 256,101 shares of the biotechnology company’s stock after purchasing an additional 69,793 shares during the quarter. APG Asset Management N.V.’s holdings in BioMarin Pharmaceutical were worth $21,641,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of BMRN. Capital Research Global Investors increased its stake in shares of BioMarin Pharmaceutical by 1.4% in the fourth quarter. Capital Research Global Investors now owns 22,004,065 shares of the biotechnology company’s stock valued at $1,860,444,000 after buying an additional 296,401 shares in the last quarter. Primecap Management Co. CA increased its position in BioMarin Pharmaceutical by 9.1% in the first quarter. Primecap Management Co. CA now owns 17,809,767 shares of the biotechnology company’s stock worth $1,504,925,000 after purchasing an additional 1,480,447 shares during the period. Jennison Associates LLC increased its position in BioMarin Pharmaceutical by 15.7% in the first quarter. Jennison Associates LLC now owns 8,214,463 shares of the biotechnology company’s stock worth $694,122,000 after purchasing an additional 1,114,290 shares during the period. Geode Capital Management LLC increased its position in BioMarin Pharmaceutical by 7.6% in the first quarter. Geode Capital Management LLC now owns 2,082,293 shares of the biotechnology company’s stock worth $175,805,000 after purchasing an additional 146,481 shares during the period. Finally, Nuveen Asset Management LLC increased its position in BioMarin Pharmaceutical by 112.1% in the first quarter. Nuveen Asset Management LLC now owns 1,819,574 shares of the biotechnology company’s stock worth $153,754,000 after purchasing an additional 961,494 shares during the period. 96.46% of the stock is owned by hedge funds and other institutional investors.
BMRN has been the topic of a number of recent analyst reports. Nomura restated a “hold” rating and set a $77.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, April 30th. SunTrust Banks raised their target price on BioMarin Pharmaceutical from $109.00 to $143.00 in a report on Thursday, June 18th. BidaskClub cut BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 11th. William Blair reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Sunday, June 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and seventeen have assigned a buy rating to the company’s stock. BioMarin Pharmaceutical presently has a consensus rating of “Buy” and an average target price of $118.67.
BMRN stock opened at $128.73 on Thursday. The company has a current ratio of 2.58, a quick ratio of 1.72 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $23.14 billion, a PE ratio of 211.03 and a beta of 1.09. BioMarin Pharmaceutical Inc. has a 1-year low of $62.88 and a 1-year high of $129.89. The business’s 50 day simple moving average is $112.10 and its 200 day simple moving average is $93.50.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Wednesday, April 29th. The biotechnology company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.32. The business had revenue of $502.07 million for the quarter, compared to analyst estimates of $468.77 million. BioMarin Pharmaceutical had a return on equity of 3.62% and a net margin of 6.31%. The firm’s revenue was up 25.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.32) EPS. As a group, sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 0.43 EPS for the current fiscal year.
BioMarin Pharmaceutical Profile
BioMarin Pharmaceutical Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.
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