WCM Investment Management LLC Has $1.20 Million Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

WCM Investment Management LLC lifted its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 162.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,945 shares of the biotechnology company's stock after buying an additional 10,485 shares during the period. WCM Investment Management LLC's holdings in BioMarin Pharmaceutical were worth $1,196,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. boosted its holdings in BioMarin Pharmaceutical by 1.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company's stock valued at $932,000 after purchasing an additional 130 shares during the last quarter. Quent Capital LLC raised its stake in BioMarin Pharmaceutical by 58.9% during the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock valued at $32,000 after buying an additional 145 shares in the last quarter. Voisard Asset Management Group Inc. raised 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 valued at $95,000 after buying an additional 205 shares in the last quarter. GAMMA Investing LLC raised its stake in BioMarin Pharmaceutical by 56.1% during the third quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company's stock valued at $55,000 after buying an additional 281 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in BioMarin Pharmaceutical during the second quarter valued at approximately $25,000. Hedge funds and other institutional investors own 98.71% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BMRN. TD Cowen cut their price objective on BioMarin Pharmaceutical from $125.00 to $120.00 and set a "buy" rating on the stock in a research note on Tuesday, August 6th. Citigroup lowered their target price on BioMarin Pharmaceutical from $93.00 to $81.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 30th. Royal Bank of Canada restated a "sector perform" rating and issued a $80.00 target price on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. Canaccord Genuity Group decreased their price target on BioMarin Pharmaceutical from $93.00 to $84.00 and set a "hold" rating for the company in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald reduced their price objective on BioMarin Pharmaceutical from $110.00 to $90.00 and set an "overweight" rating for the company in a research note on Wednesday, October 30th. Seven equities research 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 company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.16.

BioMarin Pharmaceutical Stock Up 1.1 %

NASDAQ BMRN traded up $0.76 during trading on Wednesday, hitting $66.89. 735,974 shares of the company traded hands, compared to its average volume of 1,829,876. BioMarin Pharmaceutical Inc. has a 12 month low of $65.35 and a 12 month high of $99.56. The business has a fifty day simple moving average of $71.70 and a 200 day simple moving average of $79.47. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $12.75 billion, a P/E ratio of 40.05, a PEG ratio of 0.65 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (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 revenue for the quarter was up 28.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 earnings per share. As a group, sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 2.47 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.