Sanctuary Advisors LLC Has $1.37 Million Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Sanctuary Advisors LLC lessened its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 3.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,333 shares of the biotechnology company’s stock after selling 710 shares during the period. Sanctuary Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $1,371,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Erste Asset Management GmbH acquired a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter worth about $48,527,000. Principal Financial Group Inc. boosted its holdings in shares of BioMarin Pharmaceutical by 1,858.6% during the second quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company’s stock worth $53,470,000 after acquiring an additional 616,301 shares during the period. Vestal Point Capital LP acquired a new position in shares of BioMarin Pharmaceutical in the third quarter valued at approximately $28,116,000. Clearline Capital LP bought a new position in shares of BioMarin Pharmaceutical during the third quarter worth approximately $22,477,000. Finally, Rhumbline Advisers lifted its holdings in BioMarin Pharmaceutical by 122.1% during the 2nd quarter. Rhumbline Advisers now owns 551,553 shares of the biotechnology company’s stock worth $45,409,000 after purchasing an additional 303,207 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Up 1.0 %

Shares of BioMarin Pharmaceutical stock opened at $65.66 on Friday. The firm’s 50 day moving average is $66.58 and its 200 day moving average is $76.80. The firm has a market capitalization of $12.51 billion, a PE ratio of 39.32, a price-to-earnings-growth ratio of 0.65 and a beta of 0.29. BioMarin Pharmaceutical Inc. has a 1 year low of $61.15 and a 1 year high of $99.25. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11.

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

Insiders Place Their Bets

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 shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the transaction, the executive vice president now directly owns 68,909 shares in the company, valued at approximately $4,573,490.33. This represents a 7.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.85% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on BMRN shares. Wells Fargo & Company lowered their price objective on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 17th. Raymond James reiterated an “outperform” rating and issued a $79.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, October 10th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, December 12th. Evercore ISI dropped their price target on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, Robert W. Baird reduced their price target on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.20.

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.