Quest Partners LLC Purchases Shares of 4,336 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Quest Partners LLC purchased a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the third quarter, HoldingsChannel reports. The institutional investor purchased 4,336 shares of the biotechnology company’s stock, valued at approximately $305,000.

Other institutional investors have also made changes to their positions in the company. AGF Management Ltd. bought a new stake in shares of BioMarin Pharmaceutical in the second quarter worth $2,563,000. Susquehanna Fundamental Investments LLC bought a new stake in BioMarin Pharmaceutical during the second quarter valued at $5,627,000. Teachers Retirement System of The State of Kentucky increased its stake in BioMarin Pharmaceutical by 17.4% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 194,207 shares of the biotechnology company’s stock valued at $15,990,000 after purchasing an additional 28,837 shares during the last quarter. E Fund Management Co. Ltd. grew its position in shares of BioMarin Pharmaceutical by 167.4% during the second quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company’s stock worth $1,110,000 after acquiring an additional 8,438 shares during the last quarter. Finally, Tidal Investments LLC grew its position in shares of BioMarin Pharmaceutical by 65.5% during the first quarter. Tidal Investments LLC now owns 17,447 shares of the biotechnology company’s stock worth $1,524,000 after acquiring an additional 6,906 shares during the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BMRN. JPMorgan Chase & Co. lowered their price target on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. TD Cowen reduced their price objective on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Sanford C. Bernstein reduced their price objective 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. Stifel Nicolaus reduced their price objective on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Finally, Canaccord Genuity Group cut their price target on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.20.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $65.09 on Tuesday. The company has a market capitalization of $12.40 billion, a price-to-earnings ratio of 38.98, a P/E/G ratio of 0.63 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a fifty-two week low of $61.15 and a fifty-two week high of $99.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. The business’s 50-day moving average is $68.16 and its 200-day moving average is $78.30.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The firm had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. During the same quarter in the prior year, the company posted $0.26 EPS. The company’s quarterly revenue was up 28.4% on a year-over-year basis. Equities research analysts expect that BioMarin Pharmaceutical Inc. will post 2.49 EPS for the current fiscal year.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the completion of the sale, the executive vice president now owns 68,909 shares of the company’s stock, valued at $4,573,490.33. This 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 through the SEC website. 1.85% of the stock is currently owned by corporate insiders.

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.