State of Alaska Department of Revenue Cuts Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

State of Alaska Department of Revenue decreased its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 25.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,730 shares of the biotechnology company’s stock after selling 7,495 shares during the quarter. State of Alaska Department of Revenue’s holdings in BioMarin Pharmaceutical were worth $1,428,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in BioMarin Pharmaceutical during the 3rd quarter worth $28,000. TD Private Client Wealth LLC increased its position in shares of BioMarin Pharmaceutical by 57.4% during the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 186 shares during the last quarter. Meeder Asset Management Inc. grew its stake in BioMarin Pharmaceutical by 920.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 663 shares in the last quarter. GAMMA Investing LLC increased its holdings in BioMarin Pharmaceutical by 56.1% during the 3rd quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 281 shares during the last quarter. Finally, True Wealth Design LLC raised its position in shares of BioMarin Pharmaceutical by 13,400.0% in the 3rd quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock valued at $57,000 after purchasing an additional 804 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Up 3.6 %

Shares of BioMarin Pharmaceutical stock opened at $65.86 on Thursday. The business’s fifty day moving average price is $64.95 and its two-hundred day moving average price is $71.78. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. The company has a market capitalization of $12.55 billion, a P/E ratio of 39.44, a PEG ratio of 0.57 and a beta of 0.28. BioMarin Pharmaceutical Inc. has a 1-year low of $60.63 and a 1-year high of $94.85.

Analyst Ratings Changes

A number of brokerages recently issued reports on BMRN. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. JPMorgan Chase & Co. cut their target price on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Canaccord Genuity Group lowered their price objective on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Wolfe Research assumed coverage on BioMarin Pharmaceutical in a report on Friday, November 15th. They set an “outperform” rating and a $95.00 target price on the stock. Finally, Evercore ISI lowered their price target on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $94.20.

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.