Gabelli Funds LLC lowered its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Free Report) by 5.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,205 shares of the biotechnology company’s stock after selling 500 shares during the period. Gabelli Funds LLC’s holdings in BioMarin Pharmaceutical were worth $726,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. ICA Group Wealth Management LLC acquired a new position in BioMarin Pharmaceutical during the 4th quarter worth about $31,000. Acadian Asset Management LLC lifted its holdings in BioMarin Pharmaceutical by 395.4% during the 1st quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock worth $32,000 after buying an additional 344 shares during the period. Castleview Partners LLC acquired a new position in BioMarin Pharmaceutical during the 3rd quarter worth about $35,000. MayTech Global Investments LLC acquired a new position in BioMarin Pharmaceutical during the 4th quarter worth about $36,000. Finally, Dark Forest Capital Management LP acquired a new position in BioMarin Pharmaceutical during the 1st quarter worth about $37,000. Institutional investors own 92.78% of the company’s stock.
BioMarin Pharmaceutical Price Performance
Shares of NASDAQ BMRN opened at $88.46 on Friday. The firm has a market cap of $16.66 billion, a price-to-earnings ratio of 114.88, a price-to-earnings-growth ratio of 0.99 and a beta of 0.31. The stock has a fifty day simple moving average of $93.92 and a two-hundred day simple moving average of $89.91. BioMarin Pharmaceutical Inc. has a 1-year low of $76.02 and a 1-year high of $110.67. The company has a current ratio of 2.54, a quick ratio of 1.65 and a debt-to-equity ratio of 0.12.
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Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on BMRN. Piper Sandler dropped their price objective on BioMarin Pharmaceutical from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, November 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a research note on Tuesday, November 7th. Wells Fargo & Company initiated coverage on BioMarin Pharmaceutical in a research note on Wednesday, November 15th. They set an “overweight” rating and a $100.00 price target on the stock. BMO Capital Markets dropped their price target on BioMarin Pharmaceutical from $102.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, November 3rd. Finally, Morgan Stanley dropped their price target on BioMarin Pharmaceutical from $125.00 to $117.00 and set an “overweight” rating on the stock in a research note on Thursday, November 2nd. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.16.
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.
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