BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 15.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,270 shares of the biotechnology company’s stock after selling 1,134 shares during the quarter. SG Americas Securities LLC’s holdings in BioMarin Pharmaceutical were worth $441,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BMRN. Innealta Capital LLC acquired a new position in BioMarin Pharmaceutical in the 2nd quarter valued at $25,000. BOKF NA acquired a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter worth $31,000. Quent Capital LLC increased its stake in shares of BioMarin Pharmaceutical by 58.9% in the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 145 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter worth $47,000. Finally, AM Squared Ltd acquired a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter worth $66,000. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $70.16 on Thursday. The stock has a 50-day simple moving average of $80.22 and a 200-day simple moving average of $82.25. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05. The stock has a market capitalization of $13.32 billion, a PE ratio of 65.57, a PEG ratio of 0.81 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a 1 year low of $67.75 and a 1 year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.39. The business had revenue of $712.03 million during the quarter, compared to analysts’ expectations of $660.51 million. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. On average, analysts predict that BioMarin Pharmaceutical Inc. will post 2.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on BMRN. StockNews.com raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Stifel Nicolaus cut their target price on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Royal Bank of Canada cut their target price on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Sanford C. Bernstein cut their target price on BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, September 17th. Finally, Barclays cut their price objective on BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.40.

BioMarin Pharmaceutical Profile

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.