Keybank National Association OH Lowers Stock Holdings in BioMarin Pharmaceutical Inc. $BMRN

Keybank National Association OH lessened its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 33.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,628 shares of the biotechnology company’s stock after selling 9,357 shares during the period. Keybank National Association OH’s holdings in BioMarin Pharmaceutical were worth $1,009,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Quent Capital LLC acquired a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter worth $28,000. Hantz Financial Services Inc. raised its holdings in BioMarin Pharmaceutical by 480.2% during the second quarter. Hantz Financial Services Inc. now owns 1,056 shares of the biotechnology company’s stock worth $58,000 after purchasing an additional 874 shares in the last quarter. Employees Retirement System of Texas purchased a new position in BioMarin Pharmaceutical during the second quarter worth about $58,000. IFP Advisors Inc lifted its position in BioMarin Pharmaceutical by 1,382.2% in the second quarter. IFP Advisors Inc now owns 1,749 shares of the biotechnology company’s stock valued at $96,000 after purchasing an additional 1,631 shares during the period. Finally, True Wealth Design LLC boosted its holdings in BioMarin Pharmaceutical by 427.9% in the 3rd quarter. True Wealth Design LLC now owns 1,985 shares of the biotechnology company’s stock valued at $108,000 after purchasing an additional 1,609 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Weiss Ratings reissued a “sell (d)” rating on shares of BioMarin Pharmaceutical in a report on Monday, December 29th. Wells Fargo & Company cut their price objective on BioMarin Pharmaceutical from $90.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, October 28th. JPMorgan Chase & Co. boosted their target price on shares of BioMarin Pharmaceutical from $116.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, October 9th. Wall Street Zen cut shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Barclays began coverage on shares of BioMarin Pharmaceutical in a research note on Wednesday, January 28th. They issued an “overweight” rating and a $80.00 price objective for the company. Seventeen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.04.

BioMarin Pharmaceutical Trading Down 0.6%

NASDAQ:BMRN opened at $57.61 on Wednesday. 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. BioMarin Pharmaceutical Inc. has a 52-week low of $50.76 and a 52-week high of $73.51. The stock has a fifty day simple moving average of $56.59 and a 200-day simple moving average of $55.94.

BioMarin Pharmaceutical Company Profile

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.