Krilogy Financial LLC Makes New $771,000 Investment in BioMarin Pharmaceutical Inc. $BMRN

Krilogy Financial LLC acquired a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the third quarter, HoldingsChannel reports. The institutional investor acquired 14,594 shares of the biotechnology company’s stock, valued at approximately $771,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quent Capital LLC acquired a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter valued at about $28,000. Smartleaf Asset Management LLC lifted its stake in BioMarin Pharmaceutical by 92.5% during the third quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 360 shares during the period. Hantz Financial Services Inc. lifted its stake in BioMarin Pharmaceutical by 480.2% during the second quarter. Hantz Financial Services Inc. now owns 1,056 shares of the biotechnology company’s stock worth $58,000 after purchasing an additional 874 shares during the period. Employees Retirement System of Texas acquired a new stake in BioMarin Pharmaceutical during the second quarter valued at approximately $58,000. Finally, Jones Financial Companies Lllp grew its stake in shares of BioMarin Pharmaceutical by 88.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,401 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 656 shares during the period. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN opened at $59.87 on Friday. The business has a fifty day moving average of $57.25 and a 200-day moving average of $55.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.10 and a current ratio of 4.83. BioMarin Pharmaceutical Inc. has a twelve month low of $50.76 and a twelve month high of $73.51. The firm has a market cap of $11.50 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 0.65 and a beta of 0.26.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BMRN. Leerink Partners downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $82.00 to $60.00 in a research report on Wednesday, December 3rd. Barclays assumed coverage on BioMarin Pharmaceutical in a research note on Wednesday, January 28th. They set an “overweight” rating and a $80.00 price objective for the company. Wells Fargo & Company reduced 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 note on Tuesday, October 28th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $61.00 target price (down previously from $73.00) on shares of BioMarin Pharmaceutical in a report on Thursday, November 6th. Finally, Wedbush reissued an “outperform” rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, October 28th. Seventeen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.29.

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.