EFG Asset Management Americas Corp. Has $2.54 Million Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

EFG Asset Management Americas Corp. increased its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 55.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,807 shares of the biotechnology company’s stock after purchasing an additional 10,991 shares during the period. EFG Asset Management Americas Corp.’s holdings in BioMarin Pharmaceutical were worth $2,536,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. AMI Asset Management Corp lifted its position in shares of BioMarin Pharmaceutical by 51.9% during the 1st quarter. AMI Asset Management Corp now owns 346,189 shares of the biotechnology company’s stock valued at $30,236,000 after acquiring an additional 118,230 shares during the period. ING Groep NV acquired a new position in BioMarin Pharmaceutical during the fourth quarter worth $20,248,000. Fisher Asset Management LLC acquired a new position in BioMarin Pharmaceutical during the fourth quarter worth $1,301,000. APG Asset Management US Inc. acquired a new position in BioMarin Pharmaceutical during the fourth quarter worth $3,462,000. Finally, Bridgewater Associates LP raised its holdings in BioMarin Pharmaceutical by 18.3% during the fourth quarter. Bridgewater Associates LP now owns 190,970 shares of the biotechnology company’s stock worth $18,413,000 after buying an additional 29,576 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Stifel Nicolaus upped their price objective on shares of BioMarin Pharmaceutical from $112.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Evercore ISI increased their price target on shares of BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Baird R W lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 17th. Barclays reduced their price target on shares of BioMarin Pharmaceutical from $111.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Finally, Truist Financial reduced their price target on shares of BioMarin Pharmaceutical from $140.00 to $118.00 and set a “buy” rating for the company in a research report on Thursday. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $106.10.

BioMarin Pharmaceutical Price Performance

BMRN traded down $1.04 on Friday, reaching $84.08. The company had a trading volume of 1,580,812 shares, compared to its average volume of 1,844,651. The business has a 50 day simple moving average of $86.53 and a 200 day simple moving average of $85.06. The company has a market cap of $15.97 billion, a price-to-earnings ratio of 78.58 and a beta of 0.32. 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 52-week low of $73.68 and a 52-week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.38 by $0.39. The firm had revenue of $712.03 million for the quarter, compared to the consensus estimate of $660.51 million. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. As a group, sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.35 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.