BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 19.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,225 shares of the biotechnology company’s stock after selling 7,045 shares during the quarter. State of Alaska Department of Revenue’s holdings in BioMarin Pharmaceutical were worth $2,053,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Innealta Capital LLC acquired a new position in BioMarin Pharmaceutical in the 2nd quarter valued at about $25,000. BOKF NA purchased a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter valued at approximately $31,000. Quent Capital LLC lifted its holdings in BioMarin Pharmaceutical by 58.9% in the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 145 shares during the last quarter. nVerses Capital LLC purchased a new position in BioMarin Pharmaceutical in the third quarter worth approximately $28,000. Finally, Itau Unibanco Holding S.A. purchased a new position in BioMarin Pharmaceutical in the second quarter worth approximately $47,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BMRN shares. Citigroup reduced their target price on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a research report on Wednesday. Cantor Fitzgerald reduced their price objective on shares of BioMarin Pharmaceutical from $110.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday. Evercore ISI lowered their target price on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday. Bank of America decreased their price objective on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Finally, Barclays lowered their price objective on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.67.

BioMarin Pharmaceutical Stock Up 1.1 %

Shares of NASDAQ:BMRN opened at $66.60 on Friday. BioMarin Pharmaceutical Inc. has a fifty-two week low of $65.35 and a fifty-two week high of $99.56. The firm’s 50 day moving average price is $75.13 and its 200 day moving average price is $80.67. The company has a quick ratio of 1.95, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. The stock has a market cap of $12.65 billion, a price-to-earnings ratio of 39.88, a price-to-earnings-growth ratio of 0.77 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released 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 analysts’ expectations of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. BioMarin Pharmaceutical’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same period last year, the firm posted $0.26 earnings per share. As a group, equities research analysts predict that BioMarin Pharmaceutical Inc. will post 2.39 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.