BioMarin Pharmaceutical Inc. $BMRN Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 17.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 465,837 shares of the biotechnology company’s stock after purchasing an additional 70,455 shares during the period. Pictet Asset Management Holding SA owned about 0.24% of BioMarin Pharmaceutical worth $27,893,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in BMRN. Parallel Advisors LLC boosted its stake in shares of BioMarin Pharmaceutical by 29.9% during the 3rd quarter. Parallel Advisors LLC now owns 2,595 shares of the biotechnology company’s stock worth $156,000 after acquiring an additional 598 shares during the last quarter. Kestra Advisory Services LLC increased its stake in shares of BioMarin Pharmaceutical by 23.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 4,520 shares of the biotechnology company’s stock worth $271,000 after purchasing an additional 857 shares in the last quarter. Bfsg LLC purchased a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter worth $1,052,000. Oregon Public Employees Retirement Fund increased its stake in shares of BioMarin Pharmaceutical by 0.5% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 40,117 shares of the biotechnology company’s stock worth $2,407,000 after purchasing an additional 200 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in BioMarin Pharmaceutical in the 3rd quarter worth $186,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $58.33 on Thursday. The firm has a market cap of $11.30 billion, a P/E ratio of -583.30, a PEG ratio of 0.77 and a beta of 0.21. BioMarin Pharmaceutical Inc. has a 1-year low of $49.26 and a 1-year high of $70.98. The company has a 50 day simple moving average of $59.25 and a two-hundred day simple moving average of $58.48. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.44 and a quick ratio of 1.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Monday, November 2nd. The biotechnology company reported $0.23 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.28. BioMarin Pharmaceutical had a negative net margin of 0.52% and a positive return on equity of 5.58%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the firm earned $0.12 EPS. The company’s revenue was up 32.0% on a year-over-year basis. Equities analysts forecast that BioMarin Pharmaceutical Inc. will post 2.20 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BMRN. Oppenheimer lowered their target price on BioMarin Pharmaceutical from $97.00 to $94.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 3rd. Barclays boosted their price target on BioMarin Pharmaceutical from $111.00 to $114.00 and gave the company an “overweight” rating in a report on Wednesday, October 14th. UBS Group assumed coverage on BioMarin Pharmaceutical in a research report on Thursday, October 15th. They issued a “buy” rating and a $88.00 price target for the company. Piper Sandler raised their price objective on BioMarin Pharmaceutical from $88.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, November 3rd. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $87.91.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical is a biotechnology company focused on developing and commercializing medicines for people with rare genetic diseases. Its work includes research, clinical development, manufacturing and distribution of therapies for conditions that often have limited treatment options. The company’s marketed treatments address disorders including phenylketonuria, mucopolysaccharidosis, late-infantile neuronal ceroid lipofuscinosis, achondroplasia and hemophilia A. Its products include Kuvan and Palynziq for phenylketonuria, Vimizim for Morquio A syndrome, Brineura for CLN2 disease, Voxzogo for achondroplasia and Roctavian for hemophilia A. Founded in 1997 and headquartered in San Rafael, California, BioMarin serves patients and healthcare providers in the United States and international markets, including Europe.