Stifel Financial Corp Has $2.15 Million Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Stifel Financial Corp lowered its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 30.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,537 shares of the biotechnology company’s stock after selling 13,487 shares during the period. Stifel Financial Corp’s holdings in BioMarin Pharmaceutical were worth $2,146,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of BMRN. Innealta Capital LLC bought a new position in BioMarin Pharmaceutical during the 2nd quarter worth approximately $25,000. nVerses Capital LLC acquired a new stake in BioMarin Pharmaceutical in the third quarter worth $28,000. BOKF NA bought a new position in shares of BioMarin Pharmaceutical during the second quarter worth $31,000. Itau Unibanco Holding S.A. acquired a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $47,000. Finally, Meeder Asset Management Inc. increased its position in shares of BioMarin Pharmaceutical by 920.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after buying an additional 663 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the transaction, the executive vice president now directly owns 68,909 shares of the company’s stock, valued at $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.85% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, December 12th. JPMorgan Chase & Co. decreased their price objective 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. Citigroup dropped their target price on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Bank of America reduced their price target on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Finally, Canaccord Genuity Group dropped their price objective on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.20.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $65.00 on Friday. The company has a fifty day moving average price of $66.68 and a two-hundred day moving average price of $76.87. BioMarin Pharmaceutical Inc. has a one year low of $61.15 and a one year high of $99.25. The stock has a market cap of $12.39 billion, a P/E ratio of 38.92, a P/E/G ratio of 0.65 and a beta of 0.29. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its 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 firm had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The company’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same quarter last year, the business posted $0.26 earnings per share. As a group, equities analysts predict that BioMarin Pharmaceutical Inc. will post 2.49 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.