Wedmont Private Capital Makes New $430,000 Investment in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Wedmont Private Capital acquired a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 6,376 shares of the biotechnology company’s stock, valued at approximately $430,000.

Several other hedge funds have also recently bought and sold shares of the company. nVerses Capital LLC acquired a new position in shares of BioMarin Pharmaceutical in the third quarter worth $28,000. BOKF NA acquired a new position in BioMarin Pharmaceutical during the 2nd quarter worth $31,000. TD Private Client Wealth LLC raised its position in BioMarin Pharmaceutical by 57.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 186 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at about $47,000. Finally, Meeder Asset Management Inc. increased its stake in shares of BioMarin Pharmaceutical by 920.8% during the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock worth $52,000 after buying an additional 663 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was 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 in the company, valued at $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.85% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on BMRN. Evercore ISI dropped their price objective on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $80.00 price objective on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. Barclays cut their target price on BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Wedbush upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Monday, November 4th. Finally, Robert W. Baird lowered their target price on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $94.20.

BioMarin Pharmaceutical Trading Down 3.5 %

Shares of BMRN opened at $61.58 on Thursday. The firm’s 50-day moving average is $65.80 and its two-hundred day moving average is $74.72. BioMarin Pharmaceutical Inc. has a twelve month low of $61.15 and a twelve month high of $94.85. 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 firm has a market capitalization of $11.74 billion, a P/E ratio of 36.87, a PEG ratio of 0.65 and a beta of 0.29.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The business’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 firm posted $0.26 earnings per share. On average, research analysts predict that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current fiscal year.

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.