BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Signaturefd LLC

Signaturefd LLC lowered its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 26.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 646 shares of the biotechnology company’s stock after selling 236 shares during the period. Signaturefd LLC’s holdings in BioMarin Pharmaceutical were worth $45,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Sequoia Financial Advisors LLC acquired a new position in shares of BioMarin Pharmaceutical during the third quarter worth $279,000. Blue Trust Inc. grew its stake in shares of BioMarin Pharmaceutical by 504.9% during the third quarter. Blue Trust Inc. now owns 859 shares of the biotechnology company’s stock worth $60,000 after purchasing an additional 717 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of BioMarin Pharmaceutical by 23.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,763 shares of the biotechnology company’s stock worth $1,459,000 after purchasing an additional 3,939 shares in the last quarter. nVerses Capital LLC acquired a new position in BioMarin Pharmaceutical in the third quarter valued at $28,000. Finally, Vontobel Holding Ltd. boosted its stake in BioMarin Pharmaceutical by 73.0% in the third quarter. Vontobel Holding Ltd. now owns 6,050 shares of the biotechnology company’s stock valued at $425,000 after acquiring an additional 2,553 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on BMRN. TD Cowen decreased their price objective on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Canaccord Genuity Group restated a “hold” rating and issued a $93.00 price objective on shares of BioMarin Pharmaceutical in a research note on Friday, September 13th. Piper Sandler upped their price objective on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Wells Fargo & Company decreased their price objective on shares of BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. upped their target price on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $96.40.

BioMarin Pharmaceutical Trading Down 0.3 %

Shares of BioMarin Pharmaceutical stock opened at $69.91 on Wednesday. BioMarin Pharmaceutical Inc. has a 12-month low of $67.75 and a 12-month high of $99.56. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. The stock has a market cap of $13.27 billion, a PE ratio of 65.34, a price-to-earnings-growth ratio of 0.81 and a beta of 0.31. The company has a 50-day moving average of $76.60 and a two-hundred day moving average of $81.04.

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

About BioMarin Pharmaceutical

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.