National Pension Service Boosts Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

National Pension Service lifted its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 4.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 345,387 shares of the biotechnology company’s stock after acquiring an additional 13,878 shares during the quarter. National Pension Service’s holdings in BioMarin Pharmaceutical were worth $24,277,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Innealta Capital LLC purchased a new stake in BioMarin Pharmaceutical during the second quarter worth $25,000. BOKF NA purchased a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth $31,000. Quent Capital LLC lifted its stake in shares of BioMarin Pharmaceutical by 58.9% during the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 145 shares during the last quarter. nVerses Capital LLC bought a new stake in BioMarin Pharmaceutical during the third quarter valued at about $28,000. Finally, Itau Unibanco Holding S.A. purchased a new position in BioMarin Pharmaceutical in the second quarter valued at about $47,000. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $66.94 on Friday. The firm’s fifty day simple moving average is $73.68 and its two-hundred day simple moving average is $80.10. BioMarin Pharmaceutical Inc. has a 52-week low of $65.35 and a 52-week high of $99.56. The company has a market cap of $12.76 billion, a price-to-earnings ratio of 40.08, a PEG ratio of 0.65 and a beta of 0.31. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results 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 11.71% and a return on equity of 8.53%. The company had revenue of $746.00 million during the quarter, compared to analysts’ expectations of $703.37 million. During the same period in the prior year, the business posted $0.26 earnings per share. The company’s quarterly revenue was up 28.4% compared to the same quarter last year. Equities analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on BMRN shares. Bank of America decreased their price target on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Raymond James reissued an “outperform” rating and set a $79.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, October 10th. Robert W. Baird cut their price target on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. 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. Finally, Wedbush raised BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Monday. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $94.16.

BioMarin Pharmaceutical 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.