Rice Hall James & Associates LLC Sells 8,043 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Rice Hall James & Associates LLC decreased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 28.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,679 shares of the biotechnology company's stock after selling 8,043 shares during the quarter. Rice Hall James & Associates LLC's holdings in BioMarin Pharmaceutical were worth $1,703,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in BioMarin Pharmaceutical by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 18,117,108 shares of the biotechnology company's stock worth $1,582,348,000 after buying an additional 67,046 shares in the last quarter. Capital Research Global Investors lifted its position in BioMarin Pharmaceutical by 79.0% in the 4th quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company's stock worth $1,038,907,000 after buying an additional 4,756,671 shares in the last quarter. Avoro Capital Advisors LLC lifted its position in BioMarin Pharmaceutical by 1.5% in the 1st quarter. Avoro Capital Advisors LLC now owns 4,365,000 shares of the biotechnology company's stock worth $381,239,000 after buying an additional 65,000 shares in the last quarter. Norges Bank purchased a new stake in BioMarin Pharmaceutical in the 4th quarter worth approximately $324,098,000. Finally, Price T Rowe Associates Inc. MD lifted its position in BioMarin Pharmaceutical by 33.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,605,983 shares of the biotechnology company's stock worth $154,850,000 after buying an additional 401,152 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN traded down $0.40 during midday trading on Thursday, hitting $84.38. The company had a trading volume of 1,488,427 shares, compared to its average volume of 1,840,286. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11. The stock has a market cap of $16.02 billion, a price-to-earnings ratio of 79.23, a P/E/G ratio of 1.02 and a beta of 0.31. The firm has a fifty day simple moving average of $86.70 and a two-hundred day simple moving average of $84.93. BioMarin Pharmaceutical Inc. has a fifty-two week low of $73.68 and a fifty-two week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.39. The company had revenue of $712.03 million for the quarter, compared to analyst estimates of $660.51 million. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. Equities analysts forecast that BioMarin Pharmaceutical Inc. will post 2.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

BMRN has been the subject of a number of research analyst reports. TD Cowen cut their target price on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a "buy" rating for the company in a research report on Tuesday, August 6th. Piper Sandler raised their price target on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an "overweight" rating in a report on Thursday, September 5th. Cantor Fitzgerald restated an "overweight" rating and set a $110.00 price target on shares of BioMarin Pharmaceutical in a report on Monday. Baird R W downgraded shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a report on Friday, May 17th. Finally, William Blair upgraded shares of BioMarin Pharmaceutical to a "strong-buy" rating in a report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $106.10.

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.