Creative Planning Purchases 2,475 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Creative Planning raised its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 20.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,300 shares of the biotechnology company’s stock after purchasing an additional 2,475 shares during the period. Creative Planning’s holdings in BioMarin Pharmaceutical were worth $1,005,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

BMRN has been the subject of a number of analyst reports. Scotiabank cut their price target on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating for the company in a report on Tuesday, September 17th. Piper Sandler increased their price objective on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $80.00 price objective on shares of BioMarin Pharmaceutical in a research report on Wednesday. StockNews.com upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, Robert W. Baird lowered their price objective on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus price target of $93.67.

BioMarin Pharmaceutical Stock Up 1.1 %

BMRN opened at $66.60 on Friday. The company has a market cap of $12.65 billion, a P/E ratio of 39.88, a P/E/G ratio of 0.77 and a beta of 0.31. The business’s 50-day moving average price is $75.13 and its 200-day moving average price is $80.67. The company has a current ratio of 4.27, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 12 month low of $65.35 and a 12 month high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.23). The company had revenue of $746.00 million during the quarter, compared to analysts’ expectations of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The firm’s quarterly revenue was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 EPS. On average, equities analysts expect that BioMarin Pharmaceutical Inc. will post 2.39 EPS 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.