BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets trimmed its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 77.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,364 shares of the biotechnology company’s stock after selling 529,990 shares during the period. BNP Paribas Financial Markets owned approximately 0.08% of BioMarin Pharmaceutical worth $10,569,000 as of its most recent SEC filing.

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

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $66.03 on Monday. BioMarin Pharmaceutical Inc. has a 1 year low of $61.15 and a 1 year high of $99.56. The company’s 50 day simple moving average is $67.72 and its 200 day simple moving average is $77.88. The company has a market capitalization of $12.58 billion, a price-to-earnings ratio of 39.54, a PEG ratio of 0.65 and a beta of 0.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued 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). The business had revenue of $746.00 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company earned $0.26 EPS. On average, sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 2.49 EPS for the current year.

Wall Street Analyst Weigh In

BMRN has been the topic of a number of analyst reports. Stifel Nicolaus decreased their price target on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. TD Cowen lowered their price target on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Raymond James reiterated an “outperform” rating and issued a $79.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, October 10th. UBS Group upped their target price on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Truist Financial decreased their price target on BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $94.20.

Insiders Place Their Bets

In related news, EVP Charles Greg Guyer sold 5,278 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the sale, the executive vice president now directly owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.85% of the stock is owned by corporate insiders.

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.