102,925 Shares of BioMarin Pharmaceutical Inc. $BMRN Bought by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 102,925 shares of the biotechnology company’s stock, valued at approximately $6,176,000. BioMarin Pharmaceutical accounts for 1.7% of Lisanti Capital Growth LLC’s holdings, making the stock its 12th biggest position. Lisanti Capital Growth LLC owned about 0.05% of BioMarin Pharmaceutical at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Amundi increased its holdings in BioMarin Pharmaceutical by 37.8% during the 2nd quarter. Amundi now owns 259,782 shares of the biotechnology company’s stock worth $14,865,000 after purchasing an additional 71,246 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter valued at $3,461,000. Rice Hall James & Associates LLC purchased a new stake in BioMarin Pharmaceutical during the second quarter worth about $14,203,000. Bank of New York Mellon Corp bought a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter worth approximately $66,107,000. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at $39,312,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Trading Up 2.1%

Shares of BMRN stock opened at $58.33 on Thursday. The company has a market capitalization of $11.30 billion, a PE ratio of -583.30, a price-to-earnings-growth ratio of 0.77 and a beta of 0.21. BioMarin Pharmaceutical Inc. has a 52-week low of $49.26 and a 52-week high of $70.98. The business’s fifty day moving average is $59.25 and its 200 day moving average is $58.48. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.44.

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

Analyst Upgrades and Downgrades

BMRN has been the topic of several research reports. Raymond James Financial raised shares of BioMarin Pharmaceutical from an “outperform” rating to a “strong-buy” rating and set a $109.00 price target on the stock in a research report on Monday, October 12th. Morgan Stanley cut their price target on BioMarin Pharmaceutical from $122.00 to $119.00 and set an “overweight” rating for the company in a report on Tuesday, November 3rd. Barclays lifted their price target on BioMarin Pharmaceutical from $111.00 to $114.00 and gave the company an “overweight” rating in a research report on Wednesday, October 14th. Stifel Nicolaus decreased their price objective on BioMarin Pharmaceutical from $70.00 to $66.00 and set a “hold” rating on the stock in a research note on Tuesday, November 3rd. Finally, Piper Sandler boosted their price objective on BioMarin Pharmaceutical from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, September 1st. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.91.

BioMarin Pharmaceutical Company 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.