BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stake Lessened by Allworth Financial LP

Allworth Financial LP decreased its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 9.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,777 shares of the biotechnology company’s stock after selling 191 shares during the quarter. Allworth Financial LP’s holdings in BioMarin Pharmaceutical were worth $125,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Innealta Capital LLC purchased a new stake in BioMarin Pharmaceutical in the 2nd quarter worth approximately $25,000. nVerses Capital LLC purchased a new stake in shares of BioMarin Pharmaceutical during the third quarter worth $28,000. BOKF NA acquired a new stake in BioMarin Pharmaceutical during the second quarter valued at $31,000. Quent Capital LLC grew its stake in BioMarin Pharmaceutical by 58.9% in the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 145 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in BioMarin Pharmaceutical in the 2nd quarter worth about $47,000. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $65.89 on Friday. The firm has a market capitalization of $12.51 billion, a PE ratio of 61.58, a PEG ratio of 0.81 and a beta of 0.31. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 1-year low of $65.35 and a 1-year high of $99.56. The business’s 50 day moving average is $75.60 and its 200-day moving average is $80.84.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted 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 return on equity of 6.91% and a net margin of 9.91%. The business 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 firm earned $0.26 EPS. The firm’s quarterly revenue was up 28.4% on a year-over-year basis. Sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 2.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BMRN shares. Cantor Fitzgerald reduced their price target on BioMarin Pharmaceutical from $110.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday. Barclays decreased their target price on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. Raymond James restated an “outperform” rating and set a $79.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, October 10th. Scotiabank decreased their price objective on shares of BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating for the company in a report on Tuesday, September 17th. Finally, Canaccord Genuity Group cut their target price on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.67.

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.