2,427 Shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Bought by Quantbot Technologies LP

Quantbot Technologies LP bought a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,427 shares of the biotechnology company’s stock, valued at approximately $171,000.

Other institutional investors also recently made changes to their positions in the company. CWM LLC lifted its stake in shares of BioMarin Pharmaceutical by 68.5% in the second quarter. CWM LLC now owns 2,398 shares of the biotechnology company’s stock valued at $197,000 after purchasing an additional 975 shares during the period. Inspirion Wealth Advisors LLC grew its position in BioMarin Pharmaceutical by 2.3% during 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. Securian Asset Management Inc. purchased a new position in BioMarin Pharmaceutical in the second quarter valued at about $1,247,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter valued at approximately $294,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of BioMarin Pharmaceutical by 11,107.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 352,474 shares of the biotechnology company’s stock worth $29,019,000 after acquiring an additional 349,329 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction 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 owns 68,909 shares of the company’s stock, valued at $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.85% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. William Blair downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. dropped their price target on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Truist Financial decreased their price objective on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Wolfe Research began coverage on shares of BioMarin Pharmaceutical in a report on Friday, November 15th. They set an “outperform” rating and a $95.00 target price for the company. Finally, Scotiabank reduced their price target on shares of BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a report on Tuesday, September 17th. 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 currently has a consensus rating of “Moderate Buy” and an average price target of $94.20.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $66.16 on Friday. The business has a fifty day simple moving average of $67.38 and a 200-day simple moving average of $77.54. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 52 week low of $61.15 and a 52 week high of $99.56. The company has a market cap of $12.61 billion, a P/E ratio of 39.62, a P/E/G ratio of 0.62 and a beta of 0.29.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). The company had revenue of $746.00 million for the quarter, compared to analysts’ expectations of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The business’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.26 EPS. Equities research analysts forecast 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.