3,516 Shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Acquired by LWM Advisory Services LLC

LWM Advisory Services LLC bought a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,516 shares of the biotechnology company’s stock, valued at approximately $289,000.

Other institutional investors also recently bought and sold shares of the company. Innealta Capital LLC purchased a new position in BioMarin Pharmaceutical during the 2nd quarter worth $25,000. BOKF NA acquired a new stake in BioMarin Pharmaceutical in the 2nd quarter worth approximately $31,000. Quent Capital LLC grew its position in 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. Jones Financial Companies Lllp purchased a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth $43,000. Finally, AM Squared Ltd acquired a new stake in shares of BioMarin Pharmaceutical during the second quarter worth $66,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BMRN has been the subject of several research analyst reports. Truist Financial reduced their price objective on BioMarin Pharmaceutical from $140.00 to $118.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Barclays reduced their target price on shares of BioMarin Pharmaceutical from $111.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Sanford C. Bernstein upgraded BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $94.00 to $110.00 in a research note on Tuesday, August 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $110.00 target price on shares of BioMarin Pharmaceutical in a research note on Monday, September 9th. Finally, Robert W. Baird cut shares of BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $104.00 to $72.00 in a research note on Friday, May 17th. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.11.

BioMarin Pharmaceutical Trading Up 0.6 %

BMRN opened at $84.90 on Friday. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11. The firm has a market cap of $16.12 billion, a P/E ratio of 79.35, a P/E/G ratio of 1.03 and a beta of 0.32. BioMarin Pharmaceutical Inc. has a 52 week low of $73.68 and a 52 week high of $99.56. The business has a fifty day simple moving average of $86.84 and a 200-day simple moving average of $84.89.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.39. The company had revenue of $712.03 million during the quarter, compared to the consensus estimate of $660.51 million. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. On average, equities analysts expect that BioMarin Pharmaceutical Inc. will post 2.4 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.