DekaBank Deutsche Girozentrale Sells 761 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

DekaBank Deutsche Girozentrale cut its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 280,330 shares of the biotechnology company’s stock after selling 761 shares during the period. DekaBank Deutsche Girozentrale’s holdings in BioMarin Pharmaceutical were worth $19,657,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Innealta Capital LLC acquired a new position in shares of BioMarin Pharmaceutical in the second quarter valued at $25,000. nVerses Capital LLC acquired a new position in shares of BioMarin Pharmaceutical in the third quarter valued at $28,000. BOKF NA acquired a new position in shares of BioMarin Pharmaceutical in the second quarter valued at $31,000. Quent Capital LLC increased its holdings in shares of BioMarin Pharmaceutical by 58.9% in the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 145 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of BioMarin Pharmaceutical in the second quarter valued at $47,000. 98.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BMRN has been the topic of several research reports. Sanford C. Bernstein decreased their price objective on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, September 17th. Canaccord Genuity Group reiterated a “hold” rating and issued a $93.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, September 13th. Evercore ISI upped their price target on shares of BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. William Blair upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Bank of America decreased their price target on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.40.

BioMarin Pharmaceutical Trading Down 0.3 %

BMRN opened at $69.91 on Wednesday. BioMarin Pharmaceutical Inc. has a twelve month low of $67.75 and a twelve month high of $99.56. The company has a 50-day simple moving average of $76.60 and a 200 day simple moving average of $81.04. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $13.27 billion, a price-to-earnings ratio of 65.34, a P/E/G ratio of 0.81 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Monday, August 5th. The biotechnology company reported $0.77 EPS 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 analysts’ expectations of $660.51 million. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. Analysts predict that BioMarin Pharmaceutical Inc. will post 2.39 EPS for the current fiscal 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.