Baird Financial Group Inc. lowered its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 18.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,864 shares of the biotechnology company’s stock after selling 10,987 shares during the quarter. Baird Financial Group Inc.’s holdings in BioMarin Pharmaceutical were worth $4,357,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. First Manhattan Co. boosted its holdings in BioMarin Pharmaceutical by 104.2% in the fourth quarter. First Manhattan Co. now owns 1,225 shares of the biotechnology company’s stock valued at $109,000 after acquiring an additional 625 shares during the last quarter. Commerce Bank acquired a new position in BioMarin Pharmaceutical in the third quarter valued at $209,000. IFG Advisory LLC acquired a new position in BioMarin Pharmaceutical in the fourth quarter valued at $212,000. Teacher Retirement System of Texas acquired a new position in BioMarin Pharmaceutical in the third quarter valued at $220,000. Finally, First Republic Investment Management Inc. acquired a new position in BioMarin Pharmaceutical in the third quarter valued at $220,000.
A number of brokerages have commented on BMRN. JPMorgan Chase & Co. reduced their price objective on BioMarin Pharmaceutical from $131.00 to $129.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 24th. BidaskClub cut BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a research note on Saturday, January 20th. Zacks Investment Research upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a research note on Tuesday, January 16th. Wedbush restated a “neutral” rating and set a $108.00 price objective on shares of BioMarin Pharmaceutical in a research note on Wednesday, November 15th. Finally, Royal Bank of Canada restated a “hold” rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $112.34.
Shares of BioMarin Pharmaceutical Inc. (NASDAQ BMRN) opened at $86.16 on Wednesday. The company has a quick ratio of 2.12, a current ratio of 2.70 and a debt-to-equity ratio of 0.29. BioMarin Pharmaceutical Inc. has a fifty-two week low of $77.04 and a fifty-two week high of $100.51.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported ($0.30) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.06). The firm had revenue of $358.31 million during the quarter, compared to the consensus estimate of $346.24 million. BioMarin Pharmaceutical had a negative net margin of 8.91% and a negative return on equity of 3.18%. research analysts anticipate that BioMarin Pharmaceutical Inc. will post -0.67 EPS for the current fiscal year.
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About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).
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