70,455 BioMarin Pharmaceutical Inc. $BMRN Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 17.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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’s holdings in BioMarin Pharmaceutical were worth $27,893,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in BMRN. Primecap Management Co. CA bought a new position in BioMarin Pharmaceutical in the 2nd quarter worth approximately $811,962,000. Dimensional Fund Advisors LP raised its position in shares of BioMarin Pharmaceutical by 14.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,802,930 shares of the biotechnology company’s stock valued at $214,804,000 after buying an additional 481,176 shares during the last quarter. First Trust Advisors LP raised its position in shares of BioMarin Pharmaceutical by 43.3% during the first quarter. First Trust Advisors LP now owns 1,672,491 shares of the biotechnology company’s stock valued at $94,479,000 after buying an additional 505,692 shares during the last quarter. Caisse de depot et placement du Quebec bought a new stake in shares of BioMarin Pharmaceutical during the second quarter valued at approximately $70,749,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of BioMarin Pharmaceutical in the second quarter worth $66,107,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Citigroup upped their target price on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Canaccord Genuity Group raised their target price on shares of BioMarin Pharmaceutical from $111.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of BioMarin Pharmaceutical in a report on Tuesday, November 3rd. JPMorgan Chase & Co. decreased their price target on shares of BioMarin Pharmaceutical from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 4th. Finally, William Blair upgraded shares of BioMarin Pharmaceutical to a “hold” rating in a research note on Wednesday, September 23rd. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average target price of $87.91.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $58.33 on Thursday. The stock has a market capitalization of $11.30 billion, a PE ratio of -583.30, a P/E/G ratio of 0.77 and a beta of 0.21. The business 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 Inc. has a 1-year low of $49.26 and a 1-year high of $70.98.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Monday, November 2nd. The biotechnology company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.28. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. BioMarin Pharmaceutical had a positive return on equity of 5.58% and a negative net margin of 0.52%. The company’s revenue was up 32.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS. On average, research analysts predict that BioMarin Pharmaceutical Inc. will post 2.20 EPS for the current fiscal year.

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.