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

Allianz Asset Management GmbH lowered its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 36.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 15,254 shares of the biotechnology company’s stock after selling 8,587 shares during the quarter. Allianz Asset Management GmbH’s holdings in BioMarin Pharmaceutical were worth $826,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Quent Capital LLC acquired a new position in shares of BioMarin Pharmaceutical during the 3rd quarter valued at about $28,000. Hantz Financial Services Inc. raised its stake 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 during the period. Employees Retirement System of Texas purchased a new position in BioMarin Pharmaceutical during the second quarter worth about $58,000. Jones Financial Companies Lllp boosted its holdings in BioMarin Pharmaceutical by 88.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,401 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 656 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in shares of BioMarin Pharmaceutical by 1,382.2% in the 2nd quarter. IFP Advisors Inc now owns 1,749 shares of the biotechnology company’s stock valued at $96,000 after buying an additional 1,631 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Down 0.1%

Shares of BMRN opened at $59.87 on Friday. The company’s 50-day simple moving average is $57.25 and its 200-day simple moving average is $55.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.10 and a current ratio of 4.83. BioMarin Pharmaceutical Inc. has a 1 year low of $50.76 and a 1 year high of $73.51. The stock has a market capitalization of $11.50 billion, a PE ratio of 22.51, a P/E/G ratio of 0.65 and a beta of 0.26.

Wall Street Analyst Weigh In

BMRN has been the subject of a number of recent analyst reports. Sanford C. Bernstein cut their price target on shares of BioMarin Pharmaceutical from $95.00 to $88.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Canaccord Genuity Group upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and increased their price objective for the stock from $84.00 to $98.00 in a research report on Tuesday, January 20th. Royal Bank Of Canada reissued a “sector perform” rating and set a $66.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Wall Street Zen lowered BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Wedbush reiterated an “outperform” rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, October 28th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.29.

BioMarin Pharmaceutical 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.