Covestor Ltd Grows Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Covestor Ltd grew its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 336.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,030 shares of the biotechnology company’s stock after purchasing an additional 794 shares during the period. Covestor Ltd’s holdings in BioMarin Pharmaceutical were worth $72,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Innealta Capital LLC purchased a new stake in shares of BioMarin Pharmaceutical in the second quarter worth about $25,000. nVerses Capital LLC bought a new stake in BioMarin Pharmaceutical during the 3rd quarter valued at $28,000. BOKF NA bought a new position in shares of BioMarin Pharmaceutical during the second quarter valued at about $31,000. Quent Capital LLC lifted its holdings in BioMarin Pharmaceutical by 58.9% in the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after buying an additional 145 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new stake in BioMarin Pharmaceutical in the second quarter valued at $47,000. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $66.66 on Thursday. 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 Inc. has a fifty-two week low of $65.35 and a fifty-two week high of $99.56. The firm has a market capitalization of $12.70 billion, a PE ratio of 39.92, a PEG ratio of 0.65 and a beta of 0.31. The stock’s fifty day moving average is $71.70 and its 200 day moving average is $79.47.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 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 the consensus estimate of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The business’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.26 earnings per share. On average, sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

BMRN has been the subject of a number of research analyst reports. Scotiabank lowered their target price on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating for the company in a research note on Tuesday, September 17th. Bank of America cut their target price on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Canaccord Genuity Group cut their price objective on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Robert W. Baird cut their price target on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Finally, Citigroup reduced their price objective on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.16.

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.