BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Acquired by True Wealth Design LLC

True Wealth Design LLC grew its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 13,400.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 810 shares of the biotechnology company’s stock after purchasing an additional 804 shares during the period. True Wealth Design LLC’s holdings in BioMarin Pharmaceutical were worth $57,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in BMRN. AGF Management Ltd. acquired a new position in BioMarin Pharmaceutical in the 2nd quarter valued at about $2,563,000. Susquehanna Fundamental Investments LLC purchased a new stake in BioMarin Pharmaceutical in the second quarter valued at $5,627,000. Teachers Retirement System of The State of Kentucky lifted its stake in shares of BioMarin Pharmaceutical by 17.4% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 194,207 shares of the biotechnology company’s stock valued at $15,990,000 after purchasing an additional 28,837 shares during the last quarter. E Fund Management Co. Ltd. grew its holdings in shares of BioMarin Pharmaceutical by 167.4% during the 2nd quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company’s stock worth $1,110,000 after purchasing an additional 8,438 shares during the period. Finally, Tidal Investments LLC increased its position in shares of BioMarin Pharmaceutical by 65.5% during the 1st quarter. Tidal Investments LLC now owns 17,447 shares of the biotechnology company’s stock worth $1,524,000 after purchasing an additional 6,906 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BMRN. Truist Financial decreased their price objective on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Wolfe Research began coverage on BioMarin Pharmaceutical in a report on Friday, November 15th. They issued an “outperform” rating and a $95.00 price objective on the stock. William Blair cut BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Stifel Nicolaus cut their price target on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. reduced their price target on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus price target of $94.20.

Insider Activity at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 5,278 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the transaction, the executive vice president now owns 68,909 shares in the company, valued at $4,573,490.33. This trade represents a 7.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.85% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $66.03 on Friday. The business has a 50 day moving average price of $67.72 and a 200 day moving average price of $77.90. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 39.54, a PEG ratio of 0.65 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.

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 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 analysts’ expectations of $703.37 million. During the same quarter in the prior year, the firm posted $0.26 EPS. The firm’s quarterly revenue was up 28.4% compared to the same quarter last year. Equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current fiscal 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.