BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Purchased by Howe & Rusling Inc.

Howe & Rusling Inc. increased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 101.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,652 shares of the biotechnology company’s stock after purchasing an additional 24,971 shares during the period. Howe & Rusling Inc.’s holdings in BioMarin Pharmaceutical were worth $3,490,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth approximately $25,000. nVerses Capital LLC purchased a new position in BioMarin Pharmaceutical in the third quarter worth approximately $28,000. BOKF NA acquired a new stake in BioMarin Pharmaceutical during the second quarter worth $31,000. Quent Capital LLC raised its position in BioMarin Pharmaceutical by 58.9% in the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 145 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $47,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $61.97 on Wednesday. The firm has a market cap of $11.81 billion, a price-to-earnings ratio of 37.11, a PEG ratio of 0.63 and a beta of 0.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. BioMarin Pharmaceutical Inc. has a 1 year low of $61.15 and a 1 year high of $99.56. The stock’s 50-day moving average is $69.53 and its two-hundred day moving average is $78.82.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The business had revenue of $746.00 million for the quarter, compared to analysts’ expectations of $703.37 million. During the same quarter last year, the business posted $0.26 earnings per share. The business’s revenue was up 28.4% on a year-over-year basis. Analysts predict that BioMarin Pharmaceutical Inc. will post 2.47 earnings per share for the current year.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total value of $350,300.86. Following the transaction, the executive vice president now directly owns 68,909 shares in the company, valued at approximately $4,573,490.33. This trade represents a 7.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.85% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on BMRN. Piper Sandler increased their price objective on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. William Blair cut BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. TD Cowen decreased their target price on BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Wedbush upgraded BioMarin Pharmaceutical to a “strong-buy” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. cut their price target on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and an average target price of $94.20.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.