AlphaQuest LLC Sells 21,696 Shares of BioMarin Pharmaceutical Inc. $BMRN

AlphaQuest LLC decreased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 61.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,460 shares of the biotechnology company’s stock after selling 21,696 shares during the period. AlphaQuest LLC’s holdings in BioMarin Pharmaceutical were worth $729,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BMRN. NewEdge Advisors LLC boosted its position in shares of BioMarin Pharmaceutical by 11.5% during the 1st quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company’s stock valued at $266,000 after acquiring an additional 388 shares in the last quarter. Empowered Funds LLC grew its stake in shares of BioMarin Pharmaceutical by 207.4% in the 1st quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock valued at $850,000 after purchasing an additional 8,112 shares during the period. Focus Partners Wealth boosted its stake in BioMarin Pharmaceutical by 70.2% in the 1st quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock valued at $835,000 after buying an additional 4,876 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in BioMarin Pharmaceutical by 33.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company’s stock valued at $244,000 after buying an additional 1,102 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of BioMarin Pharmaceutical by 14.7% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,795 shares of the biotechnology company’s stock valued at $483,000 after purchasing an additional 1,127 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of BioMarin Pharmaceutical from $116.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Sanford C. Bernstein dropped their target price on shares of BioMarin Pharmaceutical from $95.00 to $88.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Tudor Pickering set a $88.00 price objective on BioMarin Pharmaceutical in a report on Monday, November 3rd. HC Wainwright raised their price target on BioMarin Pharmaceutical from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, December 22nd. Finally, Morgan Stanley dropped their price objective on BioMarin Pharmaceutical from $104.00 to $98.00 and set an “overweight” rating for the company in a report on Tuesday, October 28th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average price target of $90.04.

BioMarin Pharmaceutical Price Performance

NASDAQ BMRN opened at $57.61 on Wednesday. BioMarin Pharmaceutical Inc. has a 12-month low of $50.76 and a 12-month high of $73.51. The firm’s 50 day moving average is $56.59 and its 200-day moving average is $55.94. The company has a market capitalization of $11.07 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 0.63 and a beta of 0.26. The company has a quick ratio of 3.10, a current ratio of 4.83 and a debt-to-equity ratio of 0.10.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.