GAMMA Investing LLC Cuts Stock Position in BioMarin Pharmaceutical Inc. $BMRN

GAMMA Investing LLC trimmed its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 46.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,666 shares of the biotechnology company’s stock after selling 1,463 shares during the period. GAMMA Investing LLC’s holdings in BioMarin Pharmaceutical were worth $92,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Byrne Financial Freedom LLC increased its stake in shares of BioMarin Pharmaceutical by 4.4% during the first quarter. Byrne Financial Freedom LLC now owns 3,852 shares of the biotechnology company’s stock worth $272,000 after buying an additional 161 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of BioMarin Pharmaceutical by 0.9% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,523 shares of the biotechnology company’s stock worth $1,592,000 after buying an additional 197 shares during the period. Xponance Inc. increased its stake in shares of BioMarin Pharmaceutical by 0.6% during the first quarter. Xponance Inc. now owns 31,877 shares of the biotechnology company’s stock worth $2,253,000 after buying an additional 202 shares during the period. Farther Finance Advisors LLC increased its stake in shares of BioMarin Pharmaceutical by 95.9% during the first quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company’s stock worth $29,000 after buying an additional 211 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of BioMarin Pharmaceutical by 5.0% during the first quarter. Nisa Investment Advisors LLC now owns 4,572 shares of the biotechnology company’s stock worth $323,000 after buying an additional 217 shares during the period. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Up 1.3%

Shares of NASDAQ:BMRN opened at $55.57 on Friday. The stock’s 50-day moving average price is $56.84 and its two-hundred day moving average price is $58.89. The company has a current ratio of 5.56, a quick ratio of 3.60 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical Inc. has a 12-month low of $52.47 and a 12-month high of $73.51. The firm has a market cap of $10.67 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 0.70 and a beta of 0.33.

Analyst Ratings Changes

Several brokerages have commented on BMRN. Raymond James Financial began coverage on shares of BioMarin Pharmaceutical in a research note on Wednesday, September 3rd. They issued an “outperform” rating and a $85.00 price target on the stock. JPMorgan Chase & Co. increased their price target on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. Morgan Stanley dropped their price target on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 22nd. Guggenheim increased their price objective on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, Wolfe Research set a $95.00 price objective on BioMarin Pharmaceutical and gave the company an “outperform” rating in a report on Tuesday, July 15th. Fourteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $92.60.

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.