Amalgamated Bank Trims Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Amalgamated Bank trimmed its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 5.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,666 shares of the biotechnology company’s stock after selling 5,256 shares during the period. Amalgamated Bank’s holdings in BioMarin Pharmaceutical were worth $6,373,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of BMRN. Innealta Capital LLC purchased a new position in BioMarin Pharmaceutical during the second quarter worth $25,000. BOKF NA purchased a new stake in BioMarin Pharmaceutical during the 2nd quarter worth about $31,000. Quent Capital LLC raised its stake in BioMarin Pharmaceutical by 58.9% in the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 145 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter worth about $28,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of BioMarin Pharmaceutical during the second quarter worth about $47,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Trading Up 0.2 %

Shares of BMRN opened at $66.15 on Thursday. BioMarin Pharmaceutical Inc. has a one year low of $65.35 and a one year high of $99.56. The stock has a 50-day moving average price of $73.68 and a 200 day moving average price of $80.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. The company has a market capitalization of $12.61 billion, a P/E ratio of 39.61, a P/E/G ratio of 0.66 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). The company had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The firm’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.26 EPS. Sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 2.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BMRN. Scotiabank reduced their price objective on shares of BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a research note on Tuesday, September 17th. Stifel Nicolaus reduced their price target on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Wedbush raised BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Monday. Robert W. Baird reduced their target price on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lowered their price target on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.16.

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.