Stifel Financial Corp Decreases Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Stifel Financial Corp lessened its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 30.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,537 shares of the biotechnology company's stock after selling 13,487 shares during the quarter. Stifel Financial Corp's holdings in BioMarin Pharmaceutical were worth $2,146,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at $294,000. Fifth Third Bancorp lifted its position in shares of BioMarin Pharmaceutical by 734.8% during the second quarter. Fifth Third Bancorp now owns 1,536 shares of the biotechnology company's stock worth $126,000 after purchasing an additional 1,352 shares in the last quarter. New York State Teachers Retirement System purchased a new position in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $7,229,000. Retirement Systems of Alabama acquired a new position in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $19,295,000. Finally, Tranquility Partners LLC purchased a new stake in BioMarin Pharmaceutical during the 2nd quarter worth approximately $431,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

BMRN stock traded up $0.66 on Friday, hitting $65.66. The company's stock had a trading volume of 3,974,318 shares, compared to its average volume of 1,808,870. The stock has a market cap of $12.51 billion, a price-to-earnings ratio of 39.32, a price-to-earnings-growth ratio of 0.65 and a beta of 0.29. The firm has a 50 day moving average of $66.68 and a two-hundred day moving average of $76.87. 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 1 year low of $61.15 and a 1 year high of $99.25.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on BMRN shares. Bank of America lowered their target price on BioMarin Pharmaceutical from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Tuesday, September 17th. Barclays cut their target price on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an "overweight" rating on the stock in a research note on Friday, October 4th. UBS Group lifted their price target on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Sanford C. Bernstein dropped their price objective on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an "outperform" rating on the stock in a research report on Tuesday, September 17th. Finally, Raymond James reaffirmed an "outperform" rating and set a $79.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of "Moderate Buy" and a consensus price target of $94.20.

Insiders Place Their Bets

In other news, EVP Charles Greg Guyer sold 5,278 shares of BioMarin Pharmaceutical stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the sale, the executive vice president now owns 68,909 shares of the company's stock, valued at $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.85% of the stock is owned by insiders.

BioMarin Pharmaceutical Company 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.