Wahed Invest LLC Buys 470 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Wahed Invest LLC boosted its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 11.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,584 shares of the biotechnology company’s stock after purchasing an additional 470 shares during the period. Wahed Invest LLC’s holdings in BioMarin Pharmaceutical were worth $322,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Primecap Management Co. CA grew its position in BioMarin Pharmaceutical by 0.4% in 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 purchasing an additional 77,350 shares during the period. Avoro Capital Advisors LLC boosted its stake in shares of BioMarin Pharmaceutical by 4.4% during the 2nd quarter. Avoro Capital Advisors LLC now owns 4,557,416 shares of the biotechnology company’s stock worth $375,212,000 after acquiring an additional 192,416 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of BioMarin Pharmaceutical by 4.1% during 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 acquiring an additional 55,699 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of BioMarin Pharmaceutical by 38.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company’s stock worth $85,178,000 after acquiring an additional 289,953 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth $48,527,000. Institutional investors own 98.71% of the company’s stock.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the sale, the executive vice president now owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. This represents a 7.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.85% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BMRN has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 17th. William Blair cut shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Wolfe Research started coverage on shares of BioMarin Pharmaceutical in a research note on Friday, November 15th. They set an “outperform” rating and a $95.00 target price on the stock. Truist Financial lowered their target price on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Finally, Sanford C. Bernstein decreased their price target on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 17th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $94.20.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $66.74 on Friday. The stock has a market cap of $12.72 billion, a price-to-earnings ratio of 39.96, a price-to-earnings-growth ratio of 0.62 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. BioMarin Pharmaceutical Inc. has a 1 year low of $61.15 and a 1 year high of $99.56. The firm has a 50-day moving average of $67.38 and a two-hundred day moving average of $77.54.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.23). The company had revenue of $746.00 million during the quarter, compared to analysts’ expectations of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. BioMarin Pharmaceutical’s quarterly revenue was up 28.4% on a year-over-year basis. During the same period last year, the firm earned $0.26 earnings per share. On average, research analysts forecast that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share 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.