BioMarin Pharmaceutical Inc. $BMRN Shares Sold by Stratos Wealth Advisors LLC

Stratos Wealth Advisors LLC trimmed its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,268 shares of the biotechnology company’s stock after selling 400 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $1,939,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $25,000. Farther Finance Advisors LLC raised its stake in BioMarin Pharmaceutical by 95.9% during the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 211 shares during the last quarter. Rise Advisors LLC purchased a new stake in BioMarin Pharmaceutical during the 1st quarter valued at approximately $30,000. Brooklyn Investment Group raised its stake in BioMarin Pharmaceutical by 2,250.0% during the 1st quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 540 shares during the last quarter. Finally, Banque Transatlantique SA purchased a new stake in BioMarin Pharmaceutical during the 1st quarter valued at approximately $71,000. 98.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BMRN has been the subject of several analyst reports. UBS Group upped their price objective on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Raymond James Financial initiated coverage on BioMarin Pharmaceutical in a research note on Wednesday, September 3rd. They set an “outperform” rating and a $85.00 price objective for the company. Morgan Stanley cut their target price on BioMarin Pharmaceutical from $97.00 to $96.00 and set an “overweight” rating for the company in a research note on Tuesday, July 22nd. Wolfe Research set a $95.00 target price on BioMarin Pharmaceutical and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. increased their target price on BioMarin Pharmaceutical from $116.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $93.26.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $53.29 on Friday. BioMarin Pharmaceutical Inc. has a 12-month low of $51.56 and a 12-month high of $73.51. The company has a market cap of $10.23 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 0.66 and a beta of 0.33. The stock has a 50 day simple moving average of $55.66 and a 200-day simple moving average of $57.56. The company has a current ratio of 5.56, a quick ratio of 3.60 and a debt-to-equity ratio of 0.10.

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.