Sequoia Financial Advisors LLC Takes $279,000 Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Sequoia Financial Advisors LLC purchased a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,967 shares of the biotechnology company’s stock, valued at approximately $279,000.

A number of other large investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. raised its holdings in shares of BioMarin Pharmaceutical by 1.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock valued at $932,000 after acquiring an additional 130 shares during the period. Quent Capital LLC increased its stake in BioMarin Pharmaceutical by 58.9% in 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 period. SteelPeak Wealth LLC increased its stake in BioMarin Pharmaceutical by 10.9% in the 1st quarter. SteelPeak Wealth LLC now owns 2,498 shares of the biotechnology company’s stock valued at $218,000 after buying an additional 246 shares during the period. Grandfield & Dodd LLC increased its stake in BioMarin Pharmaceutical by 1.6% in the 1st quarter. Grandfield & Dodd LLC now owns 16,127 shares of the biotechnology company’s stock valued at $1,409,000 after buying an additional 255 shares during the period. Finally, AIA Group Ltd increased its stake in BioMarin Pharmaceutical by 7.0% in the 1st quarter. AIA Group Ltd now owns 4,076 shares of the biotechnology company’s stock valued at $356,000 after buying an additional 266 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock opened at $70.13 on Tuesday. 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 fifty-two week low of $67.75 and a fifty-two week high of $99.56. The firm has a fifty day moving average price of $77.08 and a two-hundred day moving average price of $81.20. The company has a market cap 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 quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share for the quarter, beating 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 firm 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 2.39 EPS for the current year.

Wall Street Analyst Weigh In

BMRN has been the topic of several research reports. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Truist Financial dropped 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 note on Tuesday, September 17th. Stifel Nicolaus dropped their price objective on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. JPMorgan Chase & Co. increased their price target on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Finally, Raymond James restated an “outperform” rating and set a $79.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, October 10th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.