CMH Wealth Management LLC lifted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 59.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 43,710 shares of the biotechnology company’s stock after buying an additional 16,342 shares during the period. BioMarin Pharmaceutical accounts for about 1.7% of CMH Wealth Management LLC’s investment portfolio, making the stock its 24th biggest holding. CMH Wealth Management LLC’s holdings in BioMarin Pharmaceutical were worth $2,946,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of BioMarin Pharmaceutical by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 15,957,672 shares of the biotechnology company’s stock worth $1,366,775,000 after buying an additional 247,798 shares during the period. Primecap Management Co. CA grew its position in shares of BioMarin Pharmaceutical by 0.7% during the 2nd quarter. Primecap Management Co. CA now owns 14,283,753 shares of the biotechnology company’s stock worth $1,223,403,000 after buying an additional 92,880 shares during the period. Nuveen Asset Management LLC acquired a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth approximately $258,055,000. First Trust Advisors LP grew its position in BioMarin Pharmaceutical by 16.0% in the 1st quarter. First Trust Advisors LP now owns 1,261,908 shares of the biotechnology company’s stock valued at $112,095,000 after purchasing an additional 174,499 shares during the period. Finally, Northern Trust Corp grew its position in BioMarin Pharmaceutical by 1.2% in the 2nd quarter. Northern Trust Corp now owns 1,216,263 shares of the biotechnology company’s stock valued at $104,174,000 after purchasing an additional 13,949 shares during the period. 97.93% of the stock is owned by institutional investors.
Several analysts recently issued reports on the stock. Stifel Nicolaus set a $108.00 price target on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a research report on Friday, September 13th. Wedbush set a $128.00 price target on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $133.00 price target on shares of BioMarin Pharmaceutical in a research report on Monday, August 5th. Piper Jaffray Companies set a $120.00 price target on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, BidaskClub downgraded shares of BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a research report on Friday, September 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $115.33.
NASDAQ:BMRN traded up $0.85 during trading hours on Friday, hitting $67.36. 1,017,398 shares of the company traded hands, compared to its average volume of 1,178,972. The company has a quick ratio of 2.79, a current ratio of 4.11 and a debt-to-equity ratio of 0.28. The firm’s 50-day simple moving average is $71.90 and its 200-day simple moving average is $80.84. BioMarin Pharmaceutical Inc. has a one year low of $62.88 and a one year high of $106.74. The company has a market cap of $11.94 billion, a PE ratio of -204.12 and a beta of 1.31.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.16). BioMarin Pharmaceutical had a negative net margin of 7.19% and a negative return on equity of 3.12%. The company had revenue of $388.00 million for the quarter, compared to the consensus estimate of $415.03 million. During the same quarter last year, the business posted ($0.09) earnings per share. BioMarin Pharmaceutical’s revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts expect that BioMarin Pharmaceutical Inc. will post -0.03 EPS for the current year.
About BioMarin Pharmaceutical
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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