Pallas Capital Advisors LLC Reduces Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Pallas Capital Advisors LLC trimmed its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 55.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,206 shares of the biotechnology company’s stock after selling 3,938 shares during the period. Pallas Capital Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $211,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Susquehanna Fundamental Investments LLC purchased a new position in BioMarin Pharmaceutical in the second quarter worth about $5,627,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of BioMarin Pharmaceutical by 17.4% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 194,207 shares of the biotechnology company’s stock valued at $15,990,000 after buying an additional 28,837 shares in the last quarter. E Fund Management Co. Ltd. lifted its position in shares of BioMarin Pharmaceutical by 167.4% during the 2nd quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company’s stock valued at $1,110,000 after buying an additional 8,438 shares in the last quarter. EULAV Asset Management lifted its position in shares of BioMarin Pharmaceutical by 12.9% during the 3rd quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company’s stock valued at $9,208,000 after buying an additional 15,000 shares in the last quarter. Finally, King Luther Capital Management Corp purchased a new position in shares of BioMarin Pharmaceutical during the 3rd quarter valued at about $2,027,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 5,278 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the completion of the transaction, the executive vice president now owns 68,909 shares in the company, valued at $4,573,490.33. The trade was a 7.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.85% of the stock is owned by company insiders.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $61.58 on Thursday. The company has a market cap of $11.74 billion, a P/E ratio of 36.87, 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 quick ratio of 2.62 and a current ratio of 4.27. The business’s 50 day moving average price is $65.80 and its 200-day moving average price is $74.72. BioMarin Pharmaceutical Inc. has a fifty-two week low of $61.15 and a fifty-two week high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The business had revenue of $746.00 million for the quarter, compared to analysts’ expectations of $703.37 million. During the same quarter in the previous year, the firm earned $0.26 EPS. BioMarin Pharmaceutical’s revenue was up 28.4% compared to the same quarter last year. Sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current year.

Analyst Ratings Changes

BMRN has been the topic of a number of analyst reports. UBS Group lifted their price objective on BioMarin Pharmaceutical from $104.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. William Blair cut BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Citigroup lowered their price objective on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Barclays lowered their price objective 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. Finally, Canaccord Genuity Group decreased their target price on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Seven 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $94.20.

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.