Allspring Global Investments Holdings LLC Reduces Stake in BioMarin Pharmaceutical Inc. $BMRN

Allspring Global Investments Holdings LLC lessened its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,382 shares of the biotechnology company’s stock after selling 1,555 shares during the period. Allspring Global Investments Holdings LLC owned about 0.05% of BioMarin Pharmaceutical worth $5,640,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BMRN. V Square Quantitative Management LLC purchased a new stake in BioMarin Pharmaceutical in the 2nd quarter worth approximately $25,000. Farther Finance Advisors LLC lifted its position in shares of BioMarin Pharmaceutical by 95.9% during the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 211 shares in the last quarter. Rise Advisors LLC purchased a new position in shares of BioMarin Pharmaceutical during the 1st quarter valued at approximately $30,000. Brooklyn Investment Group lifted its position in shares of BioMarin Pharmaceutical by 2,250.0% during the 1st quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 540 shares in the last quarter. Finally, Banque Transatlantique SA purchased a new position in shares of BioMarin Pharmaceutical during the 1st quarter valued at approximately $71,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Down 0.4%

Shares of BMRN stock opened at $53.07 on Tuesday. BioMarin Pharmaceutical Inc. has a fifty-two week low of $51.56 and a fifty-two week high of $73.51. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 5.56. The stock’s fifty day moving average is $55.58 and its two-hundred day moving average is $57.37. The firm has a market capitalization of $10.19 billion, a P/E ratio of 15.75, a PEG ratio of 0.67 and a beta of 0.33.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wall Street Zen lowered BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 11th. Guggenheim increased their target price on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. HC Wainwright began coverage on BioMarin Pharmaceutical in a research report on Monday, September 8th. They set a “neutral” rating and a $60.00 target price on the stock. Morgan Stanley decreased their price objective on BioMarin Pharmaceutical from $97.00 to $96.00 and set an “overweight” rating on the stock in a report on Tuesday, July 22nd. Finally, Wedbush restated an “outperform” rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, August 5th. Thirteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and an average target price of $93.26.

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.