BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stock Holdings Increased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 102.1% during the 3rd quarter, Holdings Channel reports. The fund owned 11,700 shares of the biotechnology company’s stock after purchasing an additional 5,911 shares during the period. Janney Montgomery Scott LLC’s holdings in BioMarin Pharmaceutical were worth $822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Clear Creek Financial Management LLC bought a new stake in BioMarin Pharmaceutical during the 3rd quarter valued at $239,000. F M Investments LLC bought a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter worth $1,558,000. Voisard Asset Management Group Inc. raised its stake in shares of BioMarin Pharmaceutical by 17.8% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 1,355 shares of the biotechnology company’s stock worth $95,000 after buying an additional 205 shares in the last quarter. New York State Teachers Retirement System raised its stake in shares of BioMarin Pharmaceutical by 16.3% in the 3rd quarter. New York State Teachers Retirement System now owns 102,081 shares of the biotechnology company’s stock worth $7,175,000 after buying an additional 14,281 shares in the last quarter. Finally, Integrated Advisors Network LLC raised its stake in shares of BioMarin Pharmaceutical by 55.4% in the 3rd quarter. Integrated Advisors Network LLC now owns 5,262 shares of the biotechnology company’s stock worth $370,000 after buying an additional 1,876 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total value of $350,300.86. Following the transaction, the executive vice president now owns 68,909 shares in the company, valued at $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BMRN. Wedbush raised BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. dropped their price objective on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Piper Sandler boosted their price objective on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Canaccord Genuity Group dropped 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. Finally, Wolfe Research started coverage on BioMarin Pharmaceutical in a report on Friday. They issued an “outperform” rating and a $95.00 target price on the stock. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $94.20.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $63.42 on Monday. BioMarin Pharmaceutical Inc. has a 1-year low of $63.22 and a 1-year high of $99.56. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $12.09 billion, a price-to-earnings ratio of 37.98, a P/E/G ratio of 0.63 and a beta of 0.31. The stock’s fifty day simple moving average is $70.43 and its 200-day simple moving average is $79.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results 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). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The business had revenue of $746.00 million for the quarter, compared to analysts’ expectations of $703.37 million. During the same quarter in the prior year, the firm posted $0.26 EPS. The business’s quarterly revenue was up 28.4% compared to the same quarter last year. On average, sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 2.47 earnings per share for the current fiscal year.

About BioMarin Pharmaceutical

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.