Stifel Financial Corp lessened its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 6.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 121,459 shares of the biotechnology company’s stock after selling 8,716 shares during the quarter. Stifel Financial Corp’s holdings in BioMarin Pharmaceutical were worth $8,248,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Doyle Wealth Management acquired a new position in shares of BioMarin Pharmaceutical during the second quarter worth $26,000. North Star Investment Management Corp. bought a new position in shares of BioMarin Pharmaceutical in the third quarter worth $25,000. Usca Ria LLC purchased a new stake in shares of BioMarin Pharmaceutical in the third quarter worth $26,000. Meeder Asset Management Inc. boosted its stake in BioMarin Pharmaceutical by 73.6% during the third quarter. Meeder Asset Management Inc. now owns 408 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 173 shares during the period. Finally, Avestar Capital LLC grew its position in BioMarin Pharmaceutical by 36.9% during the second quarter. Avestar Capital LLC now owns 750 shares of the biotechnology company’s stock worth $44,000 after buying an additional 202 shares in the last quarter. 95.51% of the stock is owned by institutional investors and hedge funds.

In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 3,190 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.66, for a total transaction of $254,115.40. Following the completion of the sale, the executive vice president now directly owns 68,709 shares in the company, valued at approximately $5,473,358.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director V Bryan Lawlis sold 3,750 shares of BioMarin Pharmaceutical stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $74.47, for a total transaction of $279,262.50. Following the completion of the transaction, the director now directly owns 27,340 shares of the company’s stock, valued at $2,036,009.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,940 shares of company stock valued at $1,657,128. 1.97% of the stock is owned by company insiders.

Several research firms have weighed in on BMRN. Barclays raised BioMarin Pharmaceutical from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $86.00 to $98.00 in a report on Wednesday, November 27th. William Blair restated a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Friday, November 15th. SunTrust Banks initiated coverage on shares of BioMarin Pharmaceutical in a research report on Tuesday, November 12th. They set a “buy” rating and a $110.00 target price for the company. Wedbush reissued a “buy” rating and issued a $157.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, November 22nd. Finally, Cantor Fitzgerald set a $129.00 price target on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a report on Monday, October 21st. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $107.67.

BMRN opened at $80.23 on Wednesday. BioMarin Pharmaceutical Inc. has a 12 month low of $62.88 and a 12 month high of $100.13. The company has a current ratio of 3.77, a quick ratio of 2.53 and a debt-to-equity ratio of 0.27. The business’s 50-day moving average price is $74.46 and its 200-day moving average price is $77.47.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Wednesday, October 23rd. The biotechnology company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.25. The business had revenue of $461.10 million for the quarter, compared to analyst estimates of $455.78 million. BioMarin Pharmaceutical had a negative return on equity of 1.35% and a negative net margin of 2.65%. BioMarin Pharmaceutical’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the company earned ($0.07) EPS. On average, equities analysts forecast that BioMarin Pharmaceutical Inc. will post 0.01 earnings per share for the current fiscal year.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; 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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Institutional Ownership by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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