Allianz Asset Management GmbH Cuts Stock Holdings in BioMarin Pharmaceutical Inc. $BMRN

Allianz Asset Management GmbH decreased its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 35.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,841 shares of the biotechnology company’s stock after selling 13,026 shares during the quarter. Allianz Asset Management GmbH’s holdings in BioMarin Pharmaceutical were worth $1,311,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Byrne Financial Freedom LLC raised its position in BioMarin Pharmaceutical by 4.4% during the first quarter. Byrne Financial Freedom LLC now owns 3,852 shares of the biotechnology company’s stock valued at $272,000 after purchasing an additional 161 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in 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 valued at $1,592,000 after purchasing an additional 197 shares in the last quarter. Xponance Inc. raised its position in BioMarin Pharmaceutical by 0.6% during the first quarter. Xponance Inc. now owns 31,877 shares of the biotechnology company’s stock valued at $2,253,000 after purchasing an additional 202 shares in the last quarter. Nisa Investment Advisors LLC raised its position in BioMarin Pharmaceutical by 5.0% during the first quarter. Nisa Investment Advisors LLC now owns 4,572 shares of the biotechnology company’s stock valued at $323,000 after purchasing an additional 217 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV raised its position in BioMarin Pharmaceutical by 1.2% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 23,536 shares of the biotechnology company’s stock valued at $1,664,000 after purchasing an additional 283 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Down 0.1%

NASDAQ BMRN opened at $54.48 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.60. The stock has a market capitalization of $10.46 billion, a PE ratio of 16.17, a PEG ratio of 0.68 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 1 year low of $51.56 and a 1 year high of $73.51. The business’s 50-day moving average is $55.29 and its 200 day moving average is $57.27.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BMRN shares. Guggenheim raised their price target on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Morgan Stanley reduced their target price on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an “overweight” rating on the stock in a report on Tuesday, July 22nd. JPMorgan Chase & Co. increased their target price on shares of BioMarin Pharmaceutical from $116.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. Wall Street Zen downgraded BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 11th. Finally, Wolfe Research set a $95.00 price objective on BioMarin Pharmaceutical and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.26.

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.