BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Purchased by Torray Investment Partners LLC

Torray Investment Partners LLC raised its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 13.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,855 shares of the biotechnology company’s stock after buying an additional 2,019 shares during the period. Torray Investment Partners LLC’s holdings in BioMarin Pharmaceutical were worth $1,388,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of BioMarin Pharmaceutical by 0.4% during the first quarter. Vanguard Group Inc. now owns 18,117,108 shares of the biotechnology company’s stock worth $1,582,348,000 after purchasing an additional 67,046 shares in the last quarter. Capital Research Global Investors raised its position in shares of BioMarin Pharmaceutical by 79.0% in the fourth quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company’s stock valued at $1,038,907,000 after buying an additional 4,756,671 shares during the last quarter. Avoro Capital Advisors LLC boosted its position in BioMarin Pharmaceutical by 1.5% during the first quarter. Avoro Capital Advisors LLC now owns 4,365,000 shares of the biotechnology company’s stock worth $381,239,000 after acquiring an additional 65,000 shares during the last quarter. Norges Bank purchased a new stake in BioMarin Pharmaceutical during the 4th quarter valued at about $324,098,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in BioMarin Pharmaceutical by 33.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,605,983 shares of the biotechnology company’s stock valued at $154,850,000 after acquiring an additional 401,152 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Down 1.2 %

Shares of BMRN traded down $1.04 during mid-day trading on Friday, hitting $84.08. 1,580,812 shares of the company’s stock were exchanged, compared to its average volume of 1,844,651. The stock’s 50-day moving average is $86.53 and its 200-day moving average is $85.06. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05. BioMarin Pharmaceutical Inc. has a fifty-two week low of $73.68 and a fifty-two week high of $99.56. The company has a market cap of $15.97 billion, a price-to-earnings ratio of 78.58 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.39. The company had revenue of $712.03 million for the quarter, compared to analyst estimates of $660.51 million. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. On average, sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. StockNews.com upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Evercore ISI upped their target price on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. Wells Fargo & Company lifted their price target on BioMarin Pharmaceutical from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. William Blair raised shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Baird R W cut shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 17th. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus target price of $106.10.

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.