National Bank of Canada FI Sells 209,522 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

National Bank of Canada FI lessened its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 93.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,383 shares of the biotechnology company’s stock after selling 209,522 shares during the period. National Bank of Canada FI’s holdings in BioMarin Pharmaceutical were worth $1,181,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BMRN. Envestnet Portfolio Solutions Inc. lifted its stake in shares of BioMarin Pharmaceutical by 1.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock worth $932,000 after purchasing an additional 130 shares during the period. Quent Capital LLC increased its holdings in BioMarin Pharmaceutical by 58.9% during the second 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 last quarter. Yousif Capital Management LLC raised its position in BioMarin Pharmaceutical by 8.9% in the first quarter. Yousif Capital Management LLC now owns 2,414 shares of the biotechnology company’s stock worth $211,000 after acquiring an additional 198 shares during the period. Integrated Advisors Network LLC raised its position in BioMarin Pharmaceutical by 6.2% in the fourth quarter. Integrated Advisors Network LLC now owns 3,533 shares of the biotechnology company’s stock worth $341,000 after acquiring an additional 206 shares during the period. Finally, SteelPeak Wealth LLC boosted its stake in shares of BioMarin Pharmaceutical by 10.9% during the 1st quarter. SteelPeak Wealth LLC now owns 2,498 shares of the biotechnology company’s stock worth $218,000 after acquiring an additional 246 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Trading Down 0.5 %

Shares of BMRN stock opened at $84.38 on Friday. The stock’s 50-day moving average price is $86.77 and its 200-day moving average price is $84.92. BioMarin Pharmaceutical Inc. has a 12-month low of $73.68 and a 12-month high of $99.56. The stock has a market capitalization of $16.02 billion, a price-to-earnings ratio of 78.86, a price-to-earnings-growth ratio of 1.02 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 (NASDAQ:BMRN) last announced its earnings results on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.39. The firm had revenue of $712.03 million during the quarter, compared to analysts’ expectations of $660.51 million. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. Equities research analysts predict that BioMarin Pharmaceutical Inc. will post 2.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BMRN. Stifel Nicolaus upped their price objective on BioMarin Pharmaceutical from $112.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Barclays reduced their price target on BioMarin Pharmaceutical from $111.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Evercore ISI lifted their price objective on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. William Blair upgraded BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Friday, August 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Eight investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $106.10.

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.