Motley Fool Wealth Management LLC Cuts Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Motley Fool Wealth Management LLC trimmed its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 4.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 424,597 shares of the biotechnology company’s stock after selling 21,106 shares during the quarter. BioMarin Pharmaceutical accounts for approximately 1.5% of Motley Fool Wealth Management LLC’s investment portfolio, making the stock its 15th biggest position. Motley Fool Wealth Management LLC’s holdings in BioMarin Pharmaceutical were worth $29,845,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BMRN. Innealta Capital LLC purchased a new position in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $25,000. BOKF NA acquired a new stake in BioMarin Pharmaceutical during the 2nd quarter worth approximately $31,000. nVerses Capital LLC purchased a new position in BioMarin Pharmaceutical in the 3rd quarter valued at approximately $28,000. Itau Unibanco Holding S.A. acquired a new position in shares of BioMarin Pharmaceutical in the second quarter worth $47,000. Finally, Meeder Asset Management Inc. increased its position in shares of BioMarin Pharmaceutical by 920.8% during the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 663 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $63.19 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. BioMarin Pharmaceutical Inc. has a fifty-two week low of $61.15 and a fifty-two week high of $99.56. The firm has a 50-day simple moving average of $67.51 and a 200-day simple moving average of $77.70. The company has a market capitalization of $12.04 billion, a price-to-earnings ratio of 37.84, a price-to-earnings-growth ratio of 0.64 and a beta of 0.29.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). The company had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The firm’s revenue was up 28.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.26 earnings per share. On average, equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on BMRN shares. StockNews.com upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Canaccord Genuity Group reduced their price objective on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Scotiabank reduced their price objective on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a research note on Tuesday, September 17th. Cantor Fitzgerald reduced their price objective on BioMarin Pharmaceutical from $110.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $80.00 price objective on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price of $94.20.

Insider Activity at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 5,278 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the sale, the executive vice president now owns 68,909 shares in the company, valued at $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.85% of the stock is currently owned by insiders.

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.