BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 64.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,861 shares of the biotechnology company’s stock after purchasing an additional 2,289 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in BioMarin Pharmaceutical were worth $412,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in BioMarin Pharmaceutical during the second quarter worth $25,000. BOKF NA acquired a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $31,000. Quent Capital LLC lifted its stake in BioMarin Pharmaceutical by 58.9% in the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 145 shares in the last quarter. nVerses Capital LLC acquired a new stake in BioMarin Pharmaceutical in the 3rd quarter worth about $28,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in BioMarin Pharmaceutical in the 2nd quarter worth about $47,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analyst Ratings Changes

BMRN has been the subject of a number of research analyst reports. Barclays reduced their target price on BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, October 4th. JPMorgan Chase & Co. decreased their price objective on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Truist Financial dropped their target price on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Piper Sandler raised their price target on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $80.00 price target on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.16.

BioMarin Pharmaceutical Stock Up 0.2 %

Shares of NASDAQ:BMRN opened at $67.07 on Friday. The business has a 50-day moving average price of $72.71 and a 200 day moving average price of $79.85. BioMarin Pharmaceutical Inc. has a 12-month low of $65.35 and a 12-month high of $99.56. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $12.78 billion, a price-to-earnings ratio of 40.16, a PEG ratio of 0.65 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The company had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. BioMarin Pharmaceutical’s revenue was up 28.4% on a year-over-year basis. Sell-side analysts expect that BioMarin Pharmaceutical Inc. will post 2.47 EPS 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.