BioMarin Pharmaceutical Inc. $BMRN Position Lessened by Stratos Wealth Advisors LLC

Stratos Wealth Advisors LLC lowered its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 23.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,870 shares of the biotechnology company’s stock after selling 8,398 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $1,455,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Securian Asset Management Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 1.4% during the 2nd quarter. Securian Asset Management Inc. now owns 14,604 shares of the biotechnology company’s stock valued at $803,000 after buying an additional 197 shares during the last quarter. Sittner & Nelson LLC lifted its stake in BioMarin Pharmaceutical by 6.9% in the second quarter. Sittner & Nelson LLC now owns 3,100 shares of the biotechnology company’s stock valued at $170,000 after acquiring an additional 200 shares during the last quarter. Grandfield & Dodd LLC grew its position in BioMarin Pharmaceutical by 1.2% in the third quarter. Grandfield & Dodd LLC now owns 18,967 shares of the biotechnology company’s stock worth $1,027,000 after acquiring an additional 217 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in BioMarin Pharmaceutical by 0.6% in the second quarter. China Universal Asset Management Co. Ltd. now owns 38,890 shares of the biotechnology company’s stock worth $2,138,000 after acquiring an additional 250 shares in the last quarter. Finally, New Wave Wealth Advisors LLC grew its position in BioMarin Pharmaceutical by 2.5% in the third quarter. New Wave Wealth Advisors LLC now owns 11,910 shares of the biotechnology company’s stock worth $645,000 after acquiring an additional 288 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Trading Down 0.6%

Shares of NASDAQ:BMRN opened at $59.94 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.10 and a current ratio of 4.83. The stock’s 50-day moving average is $57.12 and its 200-day moving average is $55.97. The company has a market cap of $11.52 billion, a P/E ratio of 22.53, a P/E/G ratio of 0.66 and a beta of 0.26. BioMarin Pharmaceutical Inc. has a 52-week low of $50.76 and a 52-week high of $73.51.

Analyst Upgrades and Downgrades

BMRN has been the subject of several analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Truist Financial raised their target price on BioMarin Pharmaceutical from $80.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, December 23rd. Wall Street Zen cut BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Piper Sandler lowered their price objective on BioMarin Pharmaceutical from $122.00 to $84.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Finally, Tudor Pickering set a $88.00 price objective on BioMarin Pharmaceutical in a research note on Monday, November 3rd. Seventeen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.