F M Investments LLC Acquires New Shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

F M Investments LLC bought a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 22,073 shares of the biotechnology company’s stock, valued at approximately $1,558,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Commonwealth Equity Services LLC increased its holdings in BioMarin Pharmaceutical by 6.6% during the first quarter. Commonwealth Equity Services LLC now owns 7,290 shares of the biotechnology company’s stock valued at $637,000 after buying an additional 454 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of BioMarin Pharmaceutical by 110.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,081 shares of the biotechnology company’s stock worth $9,834,000 after acquiring an additional 56,784 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of BioMarin Pharmaceutical by 17.9% during the 1st quarter. Nordea Investment Management AB now owns 13,675 shares of the biotechnology company’s stock worth $1,207,000 after purchasing an additional 2,081 shares during the last quarter. FORA Capital LLC boosted its position in BioMarin Pharmaceutical by 26.5% during the first quarter. FORA Capital LLC now owns 27,823 shares of the biotechnology company’s stock valued at $2,430,000 after purchasing an additional 5,822 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in BioMarin Pharmaceutical in the first quarter valued at about $353,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. UBS Group raised their price target on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday. Robert W. Baird lowered their target price on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday. Cantor Fitzgerald cut their price target on shares of BioMarin Pharmaceutical from $110.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday. StockNews.com upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Finally, Canaccord Genuity Group dropped their target price on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.45.

BioMarin Pharmaceutical Price Performance

NASDAQ:BMRN opened at $66.60 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 1.95. The company has a 50 day moving average price of $75.13 and a 200-day moving average price of $80.59. BioMarin Pharmaceutical Inc. has a 1-year low of $65.35 and a 1-year high of $99.56. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of 39.88, a price-to-earnings-growth ratio of 0.77 and a beta of 0.31.

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 analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The firm had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. During the same quarter last year, the company posted $0.26 EPS. The company’s revenue was up 28.4% on a year-over-year basis. Equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 2.39 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.