Natixis Advisors LLC Sells 36,548 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Natixis Advisors LLC reduced its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 65.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,901 shares of the biotechnology company’s stock after selling 36,548 shares during the period. Natixis Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $1,556,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BMRN. Innealta Capital LLC purchased a new position in BioMarin Pharmaceutical in the second quarter valued at approximately $25,000. Quent Capital LLC lifted its position in shares of BioMarin Pharmaceutical by 58.9% during the 2nd 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. Benjamin F. Edwards & Company Inc. grew its stake in shares of BioMarin Pharmaceutical by 135.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 249 shares during the period. Jones Financial Companies Lllp purchased a new stake in BioMarin Pharmaceutical in the 4th quarter worth about $43,000. Finally, AM Squared Ltd purchased a new stake in BioMarin Pharmaceutical in the 2nd quarter worth about $66,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Up 0.6 %

Shares of BioMarin Pharmaceutical stock opened at $84.85 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 1.95. BioMarin Pharmaceutical Inc. has a 1 year low of $73.68 and a 1 year high of $99.56. The firm has a market cap of $16.11 billion, a PE ratio of 79.30, a PEG ratio of 1.02 and a beta of 0.31. The company has a 50 day simple moving average of $86.62 and a two-hundred day simple moving average of $84.93.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.39. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. The company had revenue of $712.03 million during the quarter, compared to the consensus estimate of $660.51 million. Analysts expect that BioMarin Pharmaceutical Inc. will post 2.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on BMRN. Truist Financial cut their target price on shares of BioMarin Pharmaceutical from $140.00 to $118.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Sanford C. Bernstein raised shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $94.00 to $110.00 in a report on Tuesday, August 20th. StockNews.com raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. TD Cowen cut their price target on BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, September 5th. Eight equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.10.

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.