Bank of Montreal Can Has $4.06 Million Holdings in BioMarin Pharmaceutical Inc. $BMRN

Bank of Montreal Can decreased its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 96.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,820 shares of the biotechnology company’s stock after selling 1,897,729 shares during the quarter. Bank of Montreal Can’s holdings in BioMarin Pharmaceutical were worth $4,058,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. State of Michigan Retirement System lifted its holdings in BioMarin Pharmaceutical by 1.1% during the 2nd quarter. State of Michigan Retirement System now owns 46,100 shares of the biotechnology company’s stock worth $2,534,000 after buying an additional 500 shares during the period. iA Global Asset Management Inc. bought a new position in shares of BioMarin Pharmaceutical during the second quarter worth about $416,000. Tredje AP fonden raised its position in shares of BioMarin Pharmaceutical by 1.4% during the second quarter. Tredje AP fonden now owns 290,742 shares of the biotechnology company’s stock worth $15,982,000 after acquiring an additional 4,078 shares during the last quarter. Eleva Capital SAS bought a new position in BioMarin Pharmaceutical during the 2nd quarter worth approximately $1,287,000. Finally, Plato Investment Management Ltd raised its holdings in BioMarin Pharmaceutical by 78.8% during the 2nd quarter. Plato Investment Management Ltd now owns 16,812 shares of the biotechnology company’s stock worth $921,000 after purchasing an additional 7,410 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Wall Street Zen cut shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. HC Wainwright decreased their price target on BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Wedbush reissued an “outperform” rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Stifel Nicolaus restated a “hold” rating and set a $61.00 target price (down previously from $73.00) on shares of BioMarin Pharmaceutical in a research report on Thursday, November 6th. Finally, Raymond James Financial began coverage on BioMarin Pharmaceutical in a research note on Wednesday, September 3rd. They set an “outperform” rating and a $85.00 target price for the company. Sixteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.91.

BioMarin Pharmaceutical Trading Up 4.3%

Shares of BioMarin Pharmaceutical stock opened at $54.93 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 4.83. BioMarin Pharmaceutical Inc. has a 52 week low of $50.76 and a 52 week high of $73.51. The stock has a 50 day moving average price of $54.00 and a two-hundred day moving average price of $56.65. The stock has a market capitalization of $10.55 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 0.68 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.