Janney Montgomery Scott LLC Trims Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Janney Montgomery Scott LLC cut its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 34.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,671 shares of the biotechnology company's stock after selling 4,029 shares during the quarter. Janney Montgomery Scott LLC's holdings in BioMarin Pharmaceutical were worth $504,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in BMRN. Tokio Marine Asset Management Co. Ltd. lifted its stake in BioMarin Pharmaceutical by 0.8% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company's stock worth $1,483,000 after purchasing an additional 173 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in BioMarin Pharmaceutical by 1.6% during the third quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company's stock worth $805,000 after purchasing an additional 180 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in BioMarin Pharmaceutical by 57.4% during the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company's stock worth $36,000 after purchasing an additional 186 shares during the last quarter. First Hawaiian Bank lifted its stake in BioMarin Pharmaceutical by 1.4% during the fourth quarter. First Hawaiian Bank now owns 14,700 shares of the biotechnology company's stock worth $966,000 after purchasing an additional 200 shares during the last quarter. Finally, Voisard Asset Management Group Inc. lifted its stake in BioMarin Pharmaceutical by 17.8% during the third quarter. Voisard Asset Management Group Inc. now owns 1,355 shares of the biotechnology company's stock worth $95,000 after purchasing an additional 205 shares during the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock traded down $1.44 during trading hours on Thursday, hitting $64.42. The stock had a trading volume of 1,661,176 shares, compared to its average volume of 1,530,879. 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 stock has a market capitalization of $12.28 billion, a price-to-earnings ratio of 38.57, a PEG ratio of 0.57 and a beta of 0.28. BioMarin Pharmaceutical Inc. has a 1-year low of $60.63 and a 1-year high of $94.85. The stock's fifty day moving average is $64.94 and its two-hundred day moving average is $71.74.

Analysts Set New Price Targets

BMRN has been the subject of several recent analyst reports. UBS Group boosted their target price on BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $80.00 price objective on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 30th. William Blair cut BioMarin Pharmaceutical from an "outperform" rating to a "market perform" rating in a research note on Wednesday, October 30th. StockNews.com upgraded BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Tuesday. Finally, Citigroup cut their price target on BioMarin Pharmaceutical from $93.00 to $81.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $94.20.

BioMarin Pharmaceutical Profile

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.