GraniteShares Advisors LLC Lowers Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

GraniteShares Advisors LLC decreased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 5.0% during the fourth quarter, HoldingsChannel reports. The firm owned 5,671 shares of the biotechnology company’s stock after selling 299 shares during the period. GraniteShares Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $373,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. TD Private Client Wealth LLC increased its holdings in shares of BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after buying an additional 186 shares during the period. Meeder Asset Management Inc. increased its holdings in shares of BioMarin Pharmaceutical by 920.8% in the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock worth $52,000 after buying an additional 663 shares during the period. True Wealth Design LLC increased its holdings in shares of BioMarin Pharmaceutical by 13,400.0% in the third quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock worth $57,000 after buying an additional 804 shares during the period. Blue Trust Inc. increased its holdings in shares of BioMarin Pharmaceutical by 504.9% in the third quarter. Blue Trust Inc. now owns 859 shares of the biotechnology company’s stock worth $60,000 after buying an additional 717 shares during the period. Finally, UMB Bank n.a. increased its holdings in shares of BioMarin Pharmaceutical by 260.1% in the fourth quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company’s stock worth $67,000 after buying an additional 736 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $71.17 on Wednesday. The stock’s 50 day simple moving average is $65.03 and its two-hundred day simple moving average is $70.48. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The stock has a market cap of $13.56 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 0.61 and a beta of 0.28. BioMarin Pharmaceutical Inc. has a fifty-two week low of $60.63 and a fifty-two week high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The firm had revenue of $747.31 million for the quarter, compared to analysts’ expectations of $711.05 million. As a group, analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,344 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $68.38, for a total value of $91,902.72. Following the sale, the chief accounting officer now directly owns 13,105 shares of the company’s stock, valued at $896,119.90. The trade was a 9.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BMRN shares. Scotiabank lifted their price objective on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. UBS Group lifted their price objective on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Oppenheimer upgraded BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price objective on the stock in a report on Monday. StockNews.com upgraded BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, William Blair downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.00.

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.