BioMarin Pharmaceutical Inc. $BMRN Position Decreased by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. lowered its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 84.7% during the third quarter, Holdings Channel reports. The institutional investor owned 5,049 shares of the biotechnology company’s stock after selling 28,016 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in BioMarin Pharmaceutical were worth $303,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust raised its stake in shares of BioMarin Pharmaceutical by 70.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 453 shares of the biotechnology company’s stock worth $26,000 after acquiring an additional 187 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in BioMarin Pharmaceutical by 0.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 40,117 shares of the biotechnology company’s stock valued at $2,407,000 after acquiring an additional 200 shares in the last quarter. North Dakota State Investment Board boosted its stake in BioMarin Pharmaceutical by 3.9% in the third quarter. North Dakota State Investment Board now owns 5,872 shares of the biotechnology company’s stock valued at $352,000 after acquiring an additional 218 shares in the last quarter. Chicago Partners Investment Group LLC boosted its stake in BioMarin Pharmaceutical by 2.4% in the first quarter. Chicago Partners Investment Group LLC now owns 12,183 shares of the biotechnology company’s stock valued at $660,000 after acquiring an additional 290 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in BioMarin Pharmaceutical by 16.7% in the third quarter. Signaturefd LLC now owns 2,316 shares of the biotechnology company’s stock valued at $139,000 after acquiring an additional 331 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on BMRN shares. William Blair raised shares of BioMarin Pharmaceutical to a “hold” rating in a report on Wednesday, September 23rd. UBS Group started coverage on BioMarin Pharmaceutical in a report on Thursday, October 15th. They set a “buy” rating and a $88.00 price objective for the company. Morgan Stanley lowered their price objective on BioMarin Pharmaceutical from $122.00 to $119.00 and set an “overweight” rating for the company in a research report on Tuesday, November 3rd. Wall Street Zen raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Piper Sandler boosted their target price on BioMarin Pharmaceutical from $88.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 1st. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $87.91.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $56.03 on Monday. The company has a market cap of $10.85 billion, a P/E ratio of -560.30, a price-to-earnings-growth ratio of 0.75 and a beta of 0.21. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.56. The firm’s 50-day moving average price is $59.69 and its 200-day moving average price is $58.47. BioMarin Pharmaceutical Inc. has a 52-week low of $49.26 and a 52-week high of $70.98.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Monday, November 2nd. The biotechnology company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.28. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. BioMarin Pharmaceutical had a negative net margin of 0.52% and a positive return on equity of 5.58%. BioMarin Pharmaceutical’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same period last year, the business earned $0.12 EPS. As a group, equities analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.20 EPS for the current fiscal year.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical is a biotechnology company focused on developing and commercializing medicines for people with rare genetic diseases. Its work includes research, clinical development, manufacturing and distribution of therapies for conditions that often have limited treatment options.

The company’s marketed treatments address disorders including phenylketonuria, mucopolysaccharidosis, late-infantile neuronal ceroid lipofuscinosis, achondroplasia and hemophilia A. Its products include Kuvan and Palynziq for phenylketonuria, Vimizim for Morquio A syndrome, Brineura for CLN2 disease, Voxzogo for achondroplasia and Roctavian for hemophilia A.

Founded in 1997 and headquartered in San Rafael, California, BioMarin serves patients and healthcare providers in the United States and international markets, including Europe.