Stratos Wealth Partners LTD. Sells 241 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Stratos Wealth Partners LTD. reduced its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,181 shares of the biotechnology company’s stock after selling 241 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in BioMarin Pharmaceutical were worth $341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. abrdn plc lifted its holdings in BioMarin Pharmaceutical by 31.9% in the fourth quarter. abrdn plc now owns 695,802 shares of the biotechnology company’s stock valued at $45,735,000 after acquiring an additional 168,121 shares during the period. Level Wealth Management LLC bought a new position in BioMarin Pharmaceutical in the fourth quarter valued at about $627,000. Tokio Marine Asset Management Co. Ltd. lifted its holdings in BioMarin Pharmaceutical by 5.8% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,326 shares of the biotechnology company’s stock valued at $1,467,000 after acquiring an additional 1,221 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in BioMarin Pharmaceutical by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 40,784 shares of the biotechnology company’s stock valued at $2,681,000 after acquiring an additional 3,793 shares during the period. Finally, Mediolanum International Funds Ltd bought a new position in BioMarin Pharmaceutical in the fourth quarter valued at about $1,237,000. 98.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

BMRN has been the subject of a number of analyst reports. Evercore ISI reduced their price target on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Robert W. Baird reduced their price target on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their price target on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, December 12th. Finally, Wolfe Research initiated coverage on BioMarin Pharmaceutical in a research report on Friday, November 15th. They issued an “outperform” rating and a $95.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $94.20.

BioMarin Pharmaceutical Price Performance

NASDAQ:BMRN opened at $65.86 on Thursday. The firm has a market capitalization of $12.55 billion, a price-to-earnings 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. The business has a 50 day simple moving average of $64.95 and a 200-day simple moving average of $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.

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.