F M Investments LLC Buys New Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

F M Investments LLC purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 22,073 shares of the biotechnology company's stock, valued at approximately $1,558,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BMRN. Commonwealth Equity Services LLC lifted its holdings in shares of BioMarin Pharmaceutical by 6.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 7,290 shares of the biotechnology company's stock worth $637,000 after purchasing an additional 454 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in BioMarin Pharmaceutical by 110.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,081 shares of the biotechnology company's stock worth $9,834,000 after purchasing an additional 56,784 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of BioMarin Pharmaceutical by 17.9% in the first quarter. Nordea Investment Management AB now owns 13,675 shares of the biotechnology company's stock worth $1,207,000 after purchasing an additional 2,081 shares during the last quarter. FORA Capital LLC lifted its holdings in shares of BioMarin Pharmaceutical by 26.5% in the first quarter. FORA Capital LLC now owns 27,823 shares of the biotechnology company's stock valued at $2,430,000 after purchasing an additional 5,822 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in shares of BioMarin Pharmaceutical during the first quarter valued at approximately $353,000. Institutional investors own 98.71% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BMRN. Wells Fargo & Company dropped their price objective on BioMarin Pharmaceutical from $115.00 to $90.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 17th. Sanford C. Bernstein reduced their target price on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an "outperform" rating for the company in a research report on Tuesday, September 17th. Robert W. Baird cut their target price on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a "neutral" rating for the company in a research report on Wednesday. TD Cowen reduced their price target 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. Finally, Cantor Fitzgerald decreased their target price on BioMarin Pharmaceutical from $110.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of "Moderate Buy" and an average price target of $94.45.

BioMarin Pharmaceutical Trading Up 1.1 %

Shares of NASDAQ:BMRN traded up $0.71 during trading on Friday, reaching $66.60. 1,644,395 shares of the company traded hands, compared to its average volume of 1,386,551. The company has a current ratio of 4.27, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 52-week low of $65.35 and a 52-week high of $99.56. The business's fifty day moving average is $75.13 and its 200-day moving average is $80.53. The firm has a market capitalization of $12.65 billion, a price-to-earnings ratio of 39.88, a P/E/G ratio of 0.67 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The firm had revenue of $746.00 million for the quarter, compared to analysts' expectations of $703.37 million. During the same period in the previous year, the company earned $0.26 EPS. The company's quarterly revenue was up 28.4% on a year-over-year basis. As a group, analysts forecast that BioMarin Pharmaceutical Inc. will post 2.39 EPS for the current year.

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.