Ieq Capital LLC Boosts Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Ieq Capital LLC grew its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 744.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 60,287 shares of the biotechnology company’s stock after acquiring an additional 53,151 shares during the period. Ieq Capital LLC’s holdings in BioMarin Pharmaceutical were worth $3,963,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Primecap Management Co. CA grew its holdings in shares of BioMarin Pharmaceutical by 0.4% during the 3rd quarter. Primecap Management Co. CA now owns 18,867,435 shares of the biotechnology company’s stock worth $1,326,192,000 after acquiring an additional 77,350 shares during the period. Geode Capital Management LLC boosted its position in shares of BioMarin Pharmaceutical by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,260,050 shares of the biotechnology company’s stock worth $228,632,000 after purchasing an additional 60,692 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of BioMarin Pharmaceutical by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,401,628 shares of the biotechnology company’s stock worth $98,520,000 after purchasing an additional 55,699 shares in the last quarter. abrdn plc boosted its position in shares of BioMarin Pharmaceutical by 31.9% in the 4th quarter. abrdn plc now owns 695,802 shares of the biotechnology company’s stock worth $45,735,000 after purchasing an additional 168,121 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter worth approximately $48,527,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

NASDAQ BMRN opened at $68.25 on Friday. The business’s fifty day moving average price is $64.84 and its 200-day moving average price is $71.05. The stock has a market capitalization of $13.01 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 0.58 and a beta of 0.28. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. BioMarin Pharmaceutical Inc. has a 1-year low of $60.63 and a 1-year high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.18. The firm had revenue of $747.31 million for the quarter, compared to analysts’ expectations of $711.05 million. BioMarin Pharmaceutical had a return on equity of 10.10% and a net margin of 14.96%. On average, equities analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Analysts Set New Price Targets

BMRN has been the topic of a number of analyst reports. UBS Group boosted their price target on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research report on Thursday. StockNews.com raised BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday. Wolfe Research initiated coverage on BioMarin Pharmaceutical in a research report on Friday, November 15th. They issued an “outperform” rating and a $95.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $93.81.

BioMarin Pharmaceutical Company 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.