Exchange Traded Concepts LLC Buys 7,760 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Exchange Traded Concepts LLC boosted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 87.2% during the third quarter, Holdings Channel reports. The firm owned 16,663 shares of the biotechnology company’s stock after purchasing an additional 7,760 shares during the quarter. Exchange Traded Concepts LLC’s holdings in BioMarin Pharmaceutical were worth $1,171,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMRN. Innealta Capital LLC purchased a new stake in BioMarin Pharmaceutical during the 2nd quarter valued at $25,000. BOKF NA bought a new stake in shares of BioMarin Pharmaceutical in the second quarter worth $31,000. Quent Capital LLC increased its position in BioMarin Pharmaceutical by 58.9% during the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 145 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in BioMarin Pharmaceutical in the second quarter valued at about $47,000. Finally, GAMMA Investing LLC boosted its position in BioMarin Pharmaceutical by 56.1% in the third quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 281 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Down 0.4 %

Shares of BMRN opened at $70.16 on Thursday. The firm has a market cap of $13.32 billion, a P/E ratio of 65.57, a price-to-earnings-growth ratio of 0.81 and a beta of 0.31. 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 $67.75 and a 1 year high of $99.56. The company has a 50 day simple moving average of $80.22 and a two-hundred day simple moving average of $82.25.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on BMRN shares. Scotiabank reduced their price target on shares of BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating for the company in a research report on Tuesday, September 17th. TD Cowen reduced their target price on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. William Blair upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Friday, August 30th. Wells Fargo & Company reduced their price objective on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $79.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.40.

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.