Alta Wealth Advisors LLC Sells 2,394 Shares of BioMarin Pharmaceutical Inc. $BMRN

Alta Wealth Advisors LLC reduced its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 32.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 5,044 shares of the biotechnology company’s stock after selling 2,394 shares during the quarter. Alta Wealth Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $277,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Byrne Financial Freedom LLC grew its stake in shares of BioMarin Pharmaceutical by 4.4% during the first quarter. Byrne Financial Freedom LLC now owns 3,852 shares of the biotechnology company’s stock valued at $272,000 after purchasing an additional 161 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of BioMarin Pharmaceutical by 0.9% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,523 shares of the biotechnology company’s stock valued at $1,592,000 after purchasing an additional 197 shares during the last quarter. Xponance Inc. grew its stake in shares of BioMarin Pharmaceutical by 0.6% during the first quarter. Xponance Inc. now owns 31,877 shares of the biotechnology company’s stock valued at $2,253,000 after purchasing an additional 202 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of BioMarin Pharmaceutical by 95.9% during the first quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 211 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of BioMarin Pharmaceutical by 5.0% during the first quarter. Nisa Investment Advisors LLC now owns 4,572 shares of the biotechnology company’s stock valued at $323,000 after purchasing an additional 217 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Zacks Research cut shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. HC Wainwright initiated coverage on shares of BioMarin Pharmaceutical in a report on Monday, September 8th. They issued a “neutral” rating and a $60.00 price objective on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of BioMarin Pharmaceutical in a report on Saturday, September 27th. Guggenheim increased their price objective on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, July 14th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.95.

BioMarin Pharmaceutical Trading Down 0.3%

Shares of NASDAQ:BMRN opened at $55.43 on Friday. BioMarin Pharmaceutical Inc. has a 12 month low of $52.47 and a 12 month high of $73.51. The company has a quick ratio of 3.60, a current ratio of 5.56 and a debt-to-equity ratio of 0.10. The company’s fifty day simple moving average is $56.77 and its 200 day simple moving average is $58.70. The firm has a market cap of $10.64 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 0.71 and a beta of 0.33.

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.