Hussman Strategic Advisors Inc. Takes $1.14 Million Position in BioMarin Pharmaceutical Inc. $BMRN

Hussman Strategic Advisors Inc. acquired a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 21,000 shares of the biotechnology company’s stock, valued at approximately $1,137,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BMRN. Sector Gamma AS boosted its stake in BioMarin Pharmaceutical by 43.7% in the third quarter. Sector Gamma AS now owns 175,852 shares of the biotechnology company’s stock valued at $9,524,000 after acquiring an additional 53,504 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of BioMarin Pharmaceutical by 2.3% during the 3rd quarter. Teacher Retirement System of Texas now owns 361,157 shares of the biotechnology company’s stock valued at $19,560,000 after purchasing an additional 8,216 shares during the last quarter. Grandfield & Dodd LLC boosted its position in shares of BioMarin Pharmaceutical by 1.2% in the 3rd quarter. Grandfield & Dodd LLC now owns 18,967 shares of the biotechnology company’s stock worth $1,027,000 after purchasing an additional 217 shares in the last quarter. iA Global Asset Management Inc. grew its stake in BioMarin Pharmaceutical by 41.0% during the 3rd quarter. iA Global Asset Management Inc. now owns 10,678 shares of the biotechnology company’s stock worth $578,000 after buying an additional 3,106 shares during the last quarter. Finally, New Wave Wealth Advisors LLC grew its stake in BioMarin Pharmaceutical by 2.5% during the 3rd quarter. New Wave Wealth Advisors LLC now owns 11,910 shares of the biotechnology company’s stock worth $645,000 after buying an additional 288 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Analyst Upgrades and Downgrades

BMRN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on BioMarin Pharmaceutical from $116.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BioMarin Pharmaceutical in a research report on Monday, December 29th. Barclays started coverage on shares of BioMarin Pharmaceutical in a research note on Wednesday. They issued an “overweight” rating and a $80.00 target price for the company. Wells Fargo & Company dropped their target price on shares of BioMarin Pharmaceutical from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 28th. Finally, Sanford C. Bernstein decreased 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. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.04.

BioMarin Pharmaceutical Stock Down 0.3%

BMRN stock opened at $56.68 on Thursday. The company has a market capitalization of $10.89 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 0.62 and a beta of 0.27. BioMarin Pharmaceutical Inc. has a 12 month low of $50.76 and a 12 month high of $73.51. The firm’s fifty day simple moving average is $56.38 and its 200-day simple moving average is $55.97. 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 (NASDAQ:BMRN) last issued its earnings results on Monday, October 27th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.20). BioMarin Pharmaceutical had a return on equity of 9.53% and a net margin of 16.82%.The business had revenue of $776.13 million for the quarter, compared to analysts’ expectations of $782.42 million. During the same period last year, the business earned $0.91 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

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.