Point72 DIFC Ltd Purchases New Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Point72 DIFC Ltd acquired a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the third quarter, Holdings Channel reports. The firm acquired 44,484 shares of the biotechnology company’s stock, valued at approximately $3,127,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter worth $25,000. BOKF NA purchased a new stake in BioMarin Pharmaceutical in the 2nd quarter worth about $31,000. nVerses Capital LLC acquired a new stake in BioMarin Pharmaceutical during the 3rd quarter worth about $28,000. Itau Unibanco Holding S.A. purchased a new position in BioMarin Pharmaceutical during the 2nd quarter valued at about $47,000. Finally, Meeder Asset Management Inc. increased its holdings in shares of BioMarin Pharmaceutical by 920.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 663 shares during the period. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total transaction of $350,300.86. Following the sale, the executive vice president now directly owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.85% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wedbush upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Monday, November 4th. StockNews.com raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Piper Sandler upped their target price on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Bank of America cut their price target on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Finally, Canaccord Genuity Group lowered their price target on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $94.20.

BioMarin Pharmaceutical Stock Down 2.8 %

BMRN opened at $63.19 on Wednesday. The company has a market capitalization of $12.04 billion, a P/E ratio of 37.84, a P/E/G ratio of 0.64 and a beta of 0.29. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. The firm’s fifty day moving average price is $67.51 and its two-hundred day moving average price is $77.70. 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 posted its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). The business had revenue of $746.00 million during the quarter, compared to the consensus estimate of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The business’s revenue was up 28.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.26 EPS. On average, analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.49 EPS for the current year.

BioMarin Pharmaceutical 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.