BNP Paribas Financial Markets Cuts Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

BNP Paribas Financial Markets lowered its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 77.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 150,364 shares of the biotechnology company’s stock after selling 529,990 shares during the quarter. BNP Paribas Financial Markets’ holdings in BioMarin Pharmaceutical were worth $10,569,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Tidal Investments LLC grew its stake in BioMarin Pharmaceutical by 65.5% during the first quarter. Tidal Investments LLC now owns 17,447 shares of the biotechnology company’s stock worth $1,524,000 after buying an additional 6,906 shares during the period. Quent Capital LLC raised its position 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 purchasing an additional 145 shares during the period. CWM LLC lifted its stake in shares of BioMarin Pharmaceutical by 68.5% during the second quarter. CWM LLC now owns 2,398 shares of the biotechnology company’s stock worth $197,000 after purchasing an additional 975 shares in the last quarter. Inspirion Wealth Advisors LLC boosted its position in shares of BioMarin Pharmaceutical by 2.3% in the second quarter. Inspirion Wealth Advisors LLC now owns 13,458 shares of the biotechnology company’s stock worth $1,108,000 after buying an additional 304 shares during the period. Finally, Securian Asset Management Inc. acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at about $1,247,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

Insider Activity at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the sale, the executive vice president now directly owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. This represents a 7.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.85% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BMRN. StockNews.com raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Wedbush raised shares of BioMarin Pharmaceutical to a “strong-buy” rating in a report on Monday, November 4th. Truist Financial cut their price objective on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Canaccord Genuity Group lowered their target price on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Finally, Citigroup cut their price target on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $94.20.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $66.03 on Monday. BioMarin Pharmaceutical Inc. has a 1-year low of $61.15 and a 1-year high of $99.56. The firm has a market capitalization of $12.58 billion, a PE ratio of 39.54, a P/E/G ratio of 0.65 and a beta of 0.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. The business’s fifty day moving average price is $67.72 and its two-hundred day moving average price is $77.88.

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

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.