BioMarin Pharmaceutical Inc. $BMRN Stock: CenterBook Partners LP Lowers Stake

CenterBook Partners LP reduced its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 72.7% in the third quarter, HoldingsChannel reports. The firm owned 9,243 shares of the biotechnology company’s stock after selling 24,672 shares during the period. CenterBook Partners LP’s holdings in BioMarin Pharmaceutical were worth $555,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its holdings in shares of BioMarin Pharmaceutical by 70.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 453 shares of the biotechnology company’s stock worth $26,000 after buying an additional 187 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth approximately $39,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth approximately $56,000. Root Financial Partners LLC bought a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at $88,000. Finally, Parallel Advisors LLC increased its stake in shares of BioMarin Pharmaceutical by 33.9% in the 1st quarter. Parallel Advisors LLC now owns 1,768 shares of the biotechnology company’s stock valued at $100,000 after acquiring an additional 448 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Up 2.1%

Shares of NASDAQ:BMRN opened at $58.33 on Thursday. The business’s 50 day simple moving average is $59.25 and its two-hundred day simple moving average is $58.48. The firm has a market cap of $11.30 billion, a P/E ratio of 32.10, a PEG ratio of 0.77 and a beta of 0.21. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.44. BioMarin Pharmaceutical Inc. has a 52-week low of $49.26 and a 52-week high of $70.98.

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

Wall Street Analysts Forecast Growth

BMRN has been the topic of a number of research reports. Piper Sandler boosted their target price on shares of BioMarin Pharmaceutical from $88.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, September 1st. BMO Capital Markets reissued an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Wednesday, September 16th. JPMorgan Chase & Co. reduced their price target on shares of BioMarin Pharmaceutical from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, November 4th. Barclays lifted their price target on shares of BioMarin Pharmaceutical from $111.00 to $114.00 and gave the company an “overweight” rating in a research note on Wednesday, October 14th. Finally, Wall Street Zen raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Sunday. 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 company. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.91.

BioMarin Pharmaceutical Company 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.