GAMMA Investing LLC Grows Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

GAMMA Investing LLC boosted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 56.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 782 shares of the biotechnology company’s stock after buying an additional 281 shares during the period. GAMMA Investing LLC’s holdings in BioMarin Pharmaceutical were worth $55,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BMRN. Integrated Advisors Network LLC boosted its holdings in shares of BioMarin Pharmaceutical by 6.2% in the fourth quarter. Integrated Advisors Network LLC now owns 3,533 shares of the biotechnology company’s stock valued at $341,000 after acquiring an additional 206 shares in the last quarter. Fisher Asset Management LLC acquired a new stake in BioMarin Pharmaceutical in the fourth quarter valued at about $1,301,000. SageView Advisory Group LLC purchased a new stake in BioMarin Pharmaceutical in the 4th quarter valued at approximately $264,000. Vanguard Group Inc. raised its stake in shares of BioMarin Pharmaceutical by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 18,050,062 shares of the biotechnology company’s stock worth $1,740,387,000 after buying an additional 348,852 shares in the last quarter. Finally, Gateway Investment Advisers LLC raised its stake in shares of BioMarin Pharmaceutical by 65.2% during the 1st quarter. Gateway Investment Advisers LLC now owns 21,320 shares of the biotechnology company’s stock worth $1,862,000 after buying an additional 8,415 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BMRN has been the topic of a number of recent analyst reports. TD Cowen dropped their price objective on BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Sanford C. Bernstein cut their price target on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, September 17th. Barclays reduced 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 note on Friday, October 4th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $93.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, September 13th. Seven 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $96.40.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $70.16 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 1.95. The firm has a market cap of $13.32 billion, a PE ratio of 65.57, a P/E/G ratio of 0.81 and a beta of 0.31. The firm has a 50 day simple moving average of $80.22 and a 200-day simple moving average of $82.25. BioMarin Pharmaceutical Inc. has a 1-year low of $67.75 and a 1-year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.39. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. The company had revenue of $712.03 million during the quarter, compared to the consensus estimate of $660.51 million. On average, equities analysts expect that BioMarin Pharmaceutical Inc. will post 2.39 EPS for the current 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.