Aberdeen Group plc Has $48.89 Million Position in BioMarin Pharmaceutical Inc. $BMRN

Aberdeen Group plc trimmed its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 8.2% during the third quarter, HoldingsChannel.com reports. The firm owned 902,751 shares of the biotechnology company’s stock after selling 80,297 shares during the period. Aberdeen Group plc’s holdings in BioMarin Pharmaceutical were worth $48,893,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quent Capital LLC bought a new position in BioMarin Pharmaceutical in the 3rd quarter valued at approximately $28,000. Smartleaf Asset Management LLC raised its stake in shares of BioMarin Pharmaceutical by 92.5% during the third quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 360 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of 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 bought a new stake in shares of BioMarin Pharmaceutical in the second quarter worth $58,000. Finally, Jones Financial Companies Lllp grew its stake in shares of BioMarin Pharmaceutical by 88.1% in the third quarter. Jones Financial Companies Lllp now owns 1,401 shares of the biotechnology company’s stock worth $75,000 after purchasing an additional 656 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Trading Down 0.1%

NASDAQ BMRN opened at $59.87 on Monday. The stock has a market capitalization of $11.50 billion, a P/E ratio of 22.51, a P/E/G ratio of 0.65 and a beta of 0.26. The business has a 50 day simple moving average of $57.25 and a 200 day simple moving average of $55.95. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.83 and a quick ratio of 3.10. BioMarin Pharmaceutical Inc. has a one year low of $50.76 and a one year high of $73.51.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BMRN shares. Wells Fargo & Company cut their target price on BioMarin Pharmaceutical from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, October 28th. Morgan Stanley lowered their price objective on BioMarin Pharmaceutical from $104.00 to $98.00 and set an “overweight” rating for the company in a research report on Tuesday, October 28th. Wolfe Research reaffirmed an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Leerink Partners cut BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $82.00 to $60.00 in a report on Wednesday, December 3rd. Finally, Wall Street Zen lowered shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Seventeen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.29.

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.