Janney Montgomery Scott LLC Grows Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Janney Montgomery Scott LLC raised its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 102.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,700 shares of the biotechnology company’s stock after purchasing an additional 5,911 shares during the quarter. Janney Montgomery Scott LLC’s holdings in BioMarin Pharmaceutical were worth $822,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter valued at about $25,000. BOKF NA purchased a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter valued at about $31,000. Quent Capital LLC raised 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 buying an additional 145 shares during the period. nVerses Capital LLC purchased a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter valued at about $28,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter valued at about $47,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Trading Down 3.3 %

Shares of NASDAQ BMRN opened at $63.42 on Monday. The company has a market cap of $12.09 billion, a price-to-earnings ratio of 37.98, a price-to-earnings-growth ratio of 0.63 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a 12-month low of $63.22 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 stock’s 50 day simple moving average is $70.43 and its 200 day simple moving average is $79.11.

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

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Cantor Fitzgerald dropped their target price on BioMarin Pharmaceutical from $110.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Wells Fargo & Company dropped their target price on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, September 17th. Scotiabank lowered their price objective on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating for the company in a research note on Tuesday, September 17th. Barclays lowered their price objective on BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. Finally, Stifel Nicolaus lowered their price objective on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.20.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the sale, the executive vice president now owns 68,909 shares of the company’s stock, valued at $4,573,490.33. The trade was a 7.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Company 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.