BioMarin Pharmaceutical Inc. $BMRN Stock: University of Texas Texas AM Investment Management Co. Decreases Stake

University of Texas Texas AM Investment Management Co. trimmed its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 84.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,049 shares of the biotechnology company’s stock after selling 28,016 shares during the period. University of Texas Texas AM Investment Management Co.’s holdings in BioMarin Pharmaceutical were worth $303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of BMRN. Amundi grew its stake in BioMarin Pharmaceutical by 37.8% in the second quarter. Amundi now owns 259,782 shares of the biotechnology company’s stock worth $14,865,000 after purchasing an additional 71,246 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in BioMarin Pharmaceutical during the 2nd quarter worth $3,461,000. Rice Hall James & Associates LLC bought a new stake in BioMarin Pharmaceutical during the 2nd quarter valued at $14,203,000. Bank of New York Mellon Corp bought a new stake in BioMarin Pharmaceutical during the 2nd quarter valued at $66,107,000. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in BioMarin Pharmaceutical during the 2nd quarter valued at $39,312,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BMRN shares. Wall Street Zen upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Sunday. UBS Group assumed coverage on BioMarin Pharmaceutical in a research note on Thursday, October 15th. They set a “buy” rating and a $88.00 price target on the stock. Citigroup lifted their price objective on BioMarin Pharmaceutical from $75.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Barclays upped their price objective on shares of BioMarin Pharmaceutical from $111.00 to $114.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of BioMarin Pharmaceutical in a report on Tuesday, November 3rd. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.91.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $56.03 on Monday. The business has a fifty day moving average of $59.69 and a two-hundred day moving average of $58.47. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.56. The firm has a market cap of $10.85 billion, a P/E ratio of -560.30, a P/E/G ratio of 0.75 and a beta of 0.21. BioMarin Pharmaceutical Inc. has a twelve month low of $49.26 and a twelve month high of $70.98.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Monday, November 2nd. The biotechnology company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.28. BioMarin Pharmaceutical had a positive return on equity of 5.58% and a negative net margin of 0.52%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the firm earned $0.12 EPS. The business’s revenue for the quarter was up 32.0% on a year-over-year basis. On average, analysts forecast that BioMarin Pharmaceutical Inc. will post 2.20 earnings per share for the current fiscal year.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical is a biotechnology company focused on developing and commercializing medicines for people with rare genetic diseases. Its work includes research, clinical development, manufacturing and distribution of therapies for conditions that often have limited treatment options.

The company’s marketed treatments address disorders including phenylketonuria, mucopolysaccharidosis, late-infantile neuronal ceroid lipofuscinosis, achondroplasia and hemophilia A. Its products include Kuvan and Palynziq for phenylketonuria, Vimizim for Morquio A syndrome, Brineura for CLN2 disease, Voxzogo for achondroplasia and Roctavian for hemophilia A.

Founded in 1997 and headquartered in San Rafael, California, BioMarin serves patients and healthcare providers in the United States and international markets, including Europe.