BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stock Holdings Boosted by CMH Wealth Management LLC

CMH Wealth Management LLC lifted its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRNGet Rating) by 4.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 43,151 shares of the biotechnology company’s stock after acquiring an additional 1,664 shares during the period. CMH Wealth Management LLC’s holdings in BioMarin Pharmaceutical were worth $3,576,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Kestra Advisory Services LLC lifted its holdings in BioMarin Pharmaceutical by 114.5% in the 1st quarter. Kestra Advisory Services LLC now owns 8,011 shares of the biotechnology company’s stock valued at $618,000 after acquiring an additional 4,277 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in shares of BioMarin Pharmaceutical by 18.5% in the 4th quarter. 1832 Asset Management L.P. now owns 389,892 shares of the biotechnology company’s stock valued at $34,749,000 after purchasing an additional 60,842 shares during the period. Fieldpoint Private Securities LLC acquired a new position in BioMarin Pharmaceutical in the first quarter worth approximately $89,000. abrdn plc boosted its position in BioMarin Pharmaceutical by 4.4% during the fourth quarter. abrdn plc now owns 20,209 shares of the biotechnology company’s stock worth $1,786,000 after purchasing an additional 851 shares during the period. Finally, Swiss National Bank boosted its position in shares of BioMarin Pharmaceutical by 14.1% in the first quarter. Swiss National Bank now owns 795,198 shares of the biotechnology company’s stock valued at $61,310,000 after acquiring an additional 98,300 shares during the period. Institutional investors own 94.84% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN traded down $0.65 during mid-day trading on Friday, reaching $84.27. 30,789 shares of the company’s stock were exchanged, compared to its average volume of 865,152. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.69 and a current ratio of 5.42. The firm has a market capitalization of $15.63 billion, a PE ratio of 326.63, a price-to-earnings-growth ratio of 1.87 and a beta of 0.32. BioMarin Pharmaceutical Inc. has a one year low of $70.73 and a one year high of $97.76. The business’s fifty day simple moving average is $89.93 and its two-hundred day simple moving average is $83.67.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.13. The firm had revenue of $533.80 million during the quarter, compared to analysts’ expectations of $514.18 million. BioMarin Pharmaceutical had a return on equity of 1.78% and a net margin of 2.83%. During the same period in the previous year, the firm earned $0.23 EPS. Analysts anticipate that BioMarin Pharmaceutical Inc. will post 0.91 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jean Jacques Bienaime sold 3,000 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $95.21, for a total transaction of $285,630.00. Following the completion of the sale, the chief executive officer now directly owns 328,324 shares in the company, valued at approximately $31,259,728.04. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Jean Jacques Bienaime sold 3,000 shares of the company’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $95.21, for a total transaction of $285,630.00. Following the sale, the chief executive officer now owns 328,324 shares in the company, valued at approximately $31,259,728.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP George Eric Davis sold 7,398 shares of the stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $90.00, for a total value of $665,820.00. Following the completion of the transaction, the executive vice president now owns 58,941 shares in the company, valued at approximately $5,304,690. The disclosure for this sale can be found here. In the last three months, insiders sold 30,940 shares of company stock worth $2,873,126. 1.75% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Cantor Fitzgerald initiated coverage on BioMarin Pharmaceutical in a research report on Tuesday, July 12th. They issued an “overweight” rating and a $110.00 target price for the company. Credit Suisse Group increased their price objective on BioMarin Pharmaceutical to $111.00 in a research note on Tuesday, August 9th. StockNews.com upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. Piper Sandler raised their price target on BioMarin Pharmaceutical from $125.00 to $128.00 and gave the company an “overweight” rating in a report on Tuesday, August 9th. Finally, Robert W. Baird restated an “outperform” rating and set a $112.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, August 26th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and a consensus target price of $112.86.

About BioMarin Pharmaceutical

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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.

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Institutional Ownership by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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