CIBC Asset Management Inc Boosts Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)
CIBC Asset Management Inc raised its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 4.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 17,910 shares of the biotechnology company’s stock after buying an additional 708 shares during the quarter. CIBC Asset Management Inc’s holdings in BioMarin Pharmaceutical were worth $2,209,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Evolution Wealth Advisors LLC lifted its stake in shares of BioMarin Pharmaceutical by 40.7% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 318 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 92 shares during the period. Signaturefd LLC lifted its position in BioMarin Pharmaceutical by 43.1% in the first quarter. Signaturefd LLC now owns 382 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 115 shares during the period. Shine Investment Advisory Services Inc. lifted its position in BioMarin Pharmaceutical by 199.5% in the first quarter. Shine Investment Advisory Services Inc. now owns 602 shares of the biotechnology company’s stock valued at $51,000 after purchasing an additional 401 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its holdings in BioMarin Pharmaceutical by 17.0% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 702 shares of the biotechnology company’s stock valued at $87,000 after purchasing an additional 102 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in BioMarin Pharmaceutical during the 1st quarter worth approximately $83,000. Institutional investors own 96.68% of the company’s stock.
A number of analysts recently weighed in on BMRN shares. Oppenheimer upped their price objective on BioMarin Pharmaceutical from $88.00 to $95.00 and gave the stock a “performer” rating in a report on Thursday, June 18th. Wedbush reissued a “buy” rating and set a $145.00 price objective on shares of BioMarin Pharmaceutical in a report on Monday, July 27th. Cfra reaffirmed a “buy” rating and issued a $115.00 target price on shares of BioMarin Pharmaceutical in a report on Sunday, May 10th. Nomura reissued a “hold” rating and set a $77.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, April 30th. Finally, Barclays upped their price target on BioMarin Pharmaceutical from $105.00 to $125.00 in a report on Friday, June 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company. BioMarin Pharmaceutical has a consensus rating of “Buy” and a consensus price target of $119.95.
Shares of BMRN stock opened at $119.81 on Friday. The company has a market capitalization of $22.01 billion, a price-to-earnings ratio of 196.41 and a beta of 1.09. The company has a current ratio of 2.58, a quick ratio of 1.72 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $122.38 and a 200 day moving average price of $98.14. BioMarin Pharmaceutical Inc. has a twelve month low of $62.88 and a twelve month high of $131.95.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.32. The business had revenue of $502.07 million during the quarter, compared to the consensus estimate of $468.77 million. BioMarin Pharmaceutical had a net margin of 6.31% and a return on equity of 3.62%. The company’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.32) earnings per share. As a group, research analysts predict that BioMarin Pharmaceutical Inc. will post 0.44 earnings per share for the current year.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; 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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