WCM Investment Management LLC Buys 10,485 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

WCM Investment Management LLC increased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 162.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,945 shares of the biotechnology company’s stock after purchasing an additional 10,485 shares during the quarter. WCM Investment Management LLC’s holdings in BioMarin Pharmaceutical were worth $1,196,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of BMRN. Envestnet Portfolio Solutions Inc. lifted its position in shares of BioMarin Pharmaceutical by 1.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock valued at $932,000 after buying an additional 130 shares during the last quarter. Quent Capital LLC lifted its holdings in BioMarin Pharmaceutical by 58.9% during 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 last quarter. Voisard Asset Management Group Inc. boosted its position in BioMarin Pharmaceutical by 17.8% during the third quarter. Voisard Asset Management Group Inc. now owns 1,355 shares of the biotechnology company’s stock worth $95,000 after purchasing an additional 205 shares during the period. GAMMA Investing LLC increased its stake in shares of BioMarin Pharmaceutical by 56.1% in the third quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 281 shares in the last quarter. Finally, Innealta Capital LLC bought a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $25,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Down 0.4 %

Shares of BMRN opened at $66.13 on Wednesday. BioMarin Pharmaceutical Inc. has a fifty-two week low of $65.35 and a fifty-two week high of $99.56. The firm has a market cap of $12.60 billion, a price-to-earnings ratio of 39.74, a PEG ratio of 0.66 and a beta of 0.31. The firm has a 50 day moving average price of $72.21 and a 200-day moving average price of $79.57. 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 (NASDAQ:BMRN) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $703.37 million. During the same period in the prior year, the firm earned $0.26 earnings per share. The business’s revenue for the quarter was up 28.4% on a year-over-year basis. As a group, equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 2.47 earnings per share for the current year.

Wall Street Analyst Weigh In

BMRN has been the subject of several analyst reports. Stifel Nicolaus cut their price objective on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. William Blair cut BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Bank of America cut their target price on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. TD Cowen decreased their price target on BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. lowered their price target on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.16.

BioMarin Pharmaceutical Company 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.