Assenagon Asset Management S.A. Has $7.66 Million Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Assenagon Asset Management S.A. decreased its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 69.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 108,972 shares of the biotechnology company’s stock after selling 243,502 shares during the period. Assenagon Asset Management S.A.’s holdings in BioMarin Pharmaceutical were worth $7,660,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. International Assets Investment Management LLC bought a new position in BioMarin Pharmaceutical during the third quarter worth $12,940,000. Lecap Asset Management Ltd. acquired a new position in shares of BioMarin Pharmaceutical during the third quarter valued at about $1,009,000. Sequoia Financial Advisors LLC acquired a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at about $279,000. Blue Trust Inc. grew its stake in shares of BioMarin Pharmaceutical by 504.9% in the 3rd quarter. Blue Trust Inc. now owns 859 shares of the biotechnology company’s stock valued at $60,000 after buying an additional 717 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in BioMarin Pharmaceutical by 23.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,763 shares of the biotechnology company’s stock valued at $1,459,000 after buying an additional 3,939 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Up 0.6 %

NASDAQ:BMRN opened at $70.13 on Tuesday. BioMarin Pharmaceutical Inc. has a 12 month low of $67.75 and a 12 month high of $99.56. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. The firm’s 50 day moving average is $77.08 and its 200 day moving average is $81.20. The stock has a market capitalization of $13.32 billion, a PE ratio of 65.54, a price-to-earnings-growth ratio of 0.81 and a beta of 0.31.

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

Analyst Upgrades and Downgrades

BMRN has been the subject of a number of research reports. Scotiabank reduced their price objective on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating for the company in a research note on Tuesday, September 17th. Sanford C. Bernstein reduced their price target on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, September 17th. TD Cowen lowered their price objective on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Finally, Evercore ISI upped their target price on shares of BioMarin Pharmaceutical from $113.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, August 6th. Seven 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.40.

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.