Commerce Bank Sells 3,949 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Commerce Bank cut its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 45.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,707 shares of the biotechnology company’s stock after selling 3,949 shares during the quarter. Commerce Bank’s holdings in BioMarin Pharmaceutical were worth $331,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quent Capital LLC boosted its position in shares of BioMarin Pharmaceutical by 58.9% during the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 145 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of BioMarin Pharmaceutical by 0.8% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company’s stock valued at $1,483,000 after buying an additional 173 shares during the last quarter. Voisard Asset Management Group Inc. boosted its position in shares of BioMarin Pharmaceutical by 17.8% during the third quarter. Voisard Asset Management Group Inc. now owns 1,355 shares of the biotechnology company’s stock valued at $95,000 after buying an additional 205 shares during the last quarter. GAMMA Investing LLC boosted its position in BioMarin Pharmaceutical by 56.1% in the third quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 281 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in BioMarin Pharmaceutical in the second quarter worth about $25,000. 98.71% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Charles Greg Guyer sold 5,278 shares of the 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 sale, the executive vice president now owns 68,909 shares in the company, valued at approximately $4,573,490.33. This represents a 7.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.85% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on BMRN shares. Barclays dropped 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. Canaccord Genuity Group lowered their price objective on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Wedbush raised BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Monday, November 4th. Scotiabank lowered their price objective on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a research report on Tuesday, September 17th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.20.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $65.42 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. BioMarin Pharmaceutical Inc. has a 1 year low of $61.15 and a 1 year high of $99.56. The stock’s 50 day simple moving average is $67.93 and its two-hundred day simple moving average is $78.10. The company has a market cap of $12.47 billion, a price-to-earnings ratio of 39.17, a PEG ratio of 0.64 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 analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The firm had revenue of $746.00 million during the quarter, compared to the consensus estimate of $703.37 million. During the same period in the previous year, the firm earned $0.26 EPS. The business’s revenue was up 28.4% compared to the same quarter last year. As a group, equities analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current fiscal year.

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.