BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 47.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,185 shares of the biotechnology company’s stock after selling 5,575 shares during the quarter. Nisa Investment Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $435,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Asahi Life Asset Management CO. LTD. purchased a new position in BioMarin Pharmaceutical in the third quarter valued at $384,000. Wealth Enhancement Advisory Services LLC raised its position in BioMarin Pharmaceutical by 64.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,861 shares of the biotechnology company’s stock valued at $412,000 after purchasing an additional 2,289 shares in the last quarter. Forsta AP Fonden grew its position in shares of BioMarin Pharmaceutical by 10.3% during the third quarter. Forsta AP Fonden now owns 36,400 shares of the biotechnology company’s stock worth $2,559,000 after buying an additional 3,400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of BioMarin Pharmaceutical by 16.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,404 shares of the biotechnology company’s stock worth $593,000 after buying an additional 1,167 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of BioMarin Pharmaceutical during the third quarter worth approximately $12,940,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $66.04 on Wednesday. The stock’s 50-day moving average price is $74.16 and its 200 day moving average price is $80.20. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $12.59 billion, a PE ratio of 39.54, a price-to-earnings-growth ratio of 0.66 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a 52-week low of $65.35 and a 52-week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The company had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. During the same period in the previous year, the firm posted $0.26 EPS. The company’s revenue for the quarter was up 28.4% on a year-over-year basis. As a group, equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 2.47 EPS for the current year.

Wall Street Analyst Weigh In

BMRN has been the subject of several analyst reports. Sanford C. Bernstein lowered their price target on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, September 17th. Raymond James reissued an “outperform” rating and issued a $79.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, October 10th. Stifel Nicolaus decreased their price target on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. TD Cowen dropped their price objective on BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Scotiabank cut their target price on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a research report on Tuesday, September 17th. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $94.16.

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.