Sequoia Financial Advisors LLC Purchases Shares of 3,967 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Sequoia Financial Advisors LLC bought a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,967 shares of the biotechnology company’s stock, valued at approximately $279,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BMRN. Innealta Capital LLC acquired a new position in shares of BioMarin Pharmaceutical during the 2nd quarter valued at $25,000. nVerses Capital LLC acquired a new position in shares of BioMarin Pharmaceutical during the 3rd quarter valued at $28,000. BOKF NA acquired a new position in shares of BioMarin Pharmaceutical during the 2nd quarter valued at $31,000. Quent Capital LLC lifted its holdings in shares of BioMarin Pharmaceutical by 58.9% during the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 145 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in BioMarin Pharmaceutical in the 2nd quarter worth $47,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. StockNews.com raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. TD Cowen dropped their target price on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Piper Sandler boosted their target price on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Canaccord Genuity Group reissued a “hold” rating and issued a $93.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $96.40.

BioMarin Pharmaceutical Trading Up 0.6 %

BioMarin Pharmaceutical stock opened at $70.13 on Tuesday. The firm has a 50-day moving average price of $77.08 and a two-hundred day moving average price of $81.20. The firm has a market capitalization of $13.32 billion, a price-to-earnings ratio of 65.54, a PEG ratio of 0.81 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a 52-week low of $67.75 and a 52-week high of $99.56. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.38 by $0.39. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. The business had revenue of $712.03 million during the quarter, compared to analyst estimates of $660.51 million. Sell-side analysts expect that BioMarin Pharmaceutical Inc. will post 2.39 earnings per share for the current year.

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.