BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stake Decreased by National Bank of Canada FI

National Bank of Canada FI lowered its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 93.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 919 shares of the biotechnology company's stock after selling 13,464 shares during the quarter. National Bank of Canada FI's holdings in BioMarin Pharmaceutical were worth $65,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in BioMarin Pharmaceutical in the second quarter valued at $25,000. nVerses Capital LLC purchased a new stake in BioMarin Pharmaceutical in the 3rd quarter valued at about $28,000. BOKF NA purchased a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at about $31,000. Itau Unibanco Holding S.A. purchased a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at about $47,000. Finally, Meeder Asset Management Inc. lifted its position in BioMarin Pharmaceutical by 920.8% in the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company's stock valued at $52,000 after buying an additional 663 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock traded down $2.50 during mid-day trading on Wednesday, reaching $64.69. The company's stock had a trading volume of 1,190,790 shares, compared to its average volume of 1,801,235. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a twelve month low of $61.15 and a twelve month high of $99.25. The business has a 50 day moving average price of $66.77 and a 200-day moving average price of $76.95. The firm has a market cap of $12.33 billion, a price-to-earnings ratio of 38.74, a PEG ratio of 0.65 and a beta of 0.29.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.23). The business had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The company's quarterly revenue was up 28.4% on a year-over-year basis. During the same period last year, the firm posted $0.26 earnings per share. Sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 2.49 EPS for the current fiscal year.

Insider Activity

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the firm's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total value of $350,300.86. Following the sale, the executive vice president now directly owns 68,909 shares in the company, valued at approximately $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.85% of the company's stock.

Wall Street Analyst Weigh In

BMRN has been the topic of several recent analyst reports. Citigroup decreased their price objective on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a "neutral" rating on the stock in a report on Wednesday, October 30th. Barclays dropped their target price on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an "overweight" rating for the company in a report on Friday, October 4th. Canaccord Genuity Group decreased their price target on BioMarin Pharmaceutical from $93.00 to $84.00 and set a "hold" rating on the stock in a research note on Wednesday, October 30th. William Blair downgraded BioMarin Pharmaceutical from an "outperform" rating to a "market perform" rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus cut their price objective on BioMarin Pharmaceutical from $115.00 to $87.00 and set a "buy" rating on the stock in a report on Tuesday, September 17th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $94.20.

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.