FORA Capital LLC Acquires 16,926 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

FORA Capital LLC increased its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 199.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,399 shares of the biotechnology company’s stock after purchasing an additional 16,926 shares during the period. FORA Capital LLC’s holdings in BioMarin Pharmaceutical were worth $1,785,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Principal Financial Group Inc. boosted its position in BioMarin Pharmaceutical by 1,858.6% during the 2nd quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company’s stock valued at $53,470,000 after acquiring an additional 616,301 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in BioMarin Pharmaceutical by 11,107.4% during the second quarter. Assenagon Asset Management S.A. now owns 352,474 shares of the biotechnology company’s stock valued at $29,019,000 after purchasing an additional 349,329 shares in the last quarter. Rhumbline Advisers grew its stake in BioMarin Pharmaceutical by 122.1% in the second quarter. Rhumbline Advisers now owns 551,553 shares of the biotechnology company’s stock valued at $45,409,000 after purchasing an additional 303,207 shares during the last quarter. Swedbank AB bought a new position in BioMarin Pharmaceutical in the first quarter worth about $25,864,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of BioMarin Pharmaceutical by 38.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company’s stock valued at $85,178,000 after buying an additional 289,953 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BMRN shares. Wedbush raised shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Monday, November 4th. Wells Fargo & Company reduced their price target on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 17th. Wolfe Research began coverage on BioMarin Pharmaceutical in a research report on Friday, November 15th. They issued an “outperform” rating and a $95.00 price objective for the company. Truist Financial reduced their target price on BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Finally, StockNews.com raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and a consensus target price of $94.20.

Insider Transactions at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total transaction of $350,300.86. Following the sale, the executive vice president now directly owns 68,909 shares of the company’s stock, valued at $4,573,490.33. This represents a 7.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $65.42 on Thursday. The business’s 50-day moving average is $67.93 and its two-hundred day moving average is $78.10. The company has a market capitalization of $12.47 billion, a P/E ratio of 39.17, a P/E/G ratio of 0.64 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a fifty-two week low of $61.15 and a fifty-two week high of $99.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The company had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. During the same period last year, the business earned $0.26 earnings per share. The firm’s revenue was up 28.4% on a year-over-year basis. Research analysts predict that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current year.

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.