Rice Hall James & Associates LLC Sells 10,352 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Rice Hall James & Associates LLC cut its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 50.1% during the 3rd quarter, Holdings Channel reports. The firm owned 10,327 shares of the biotechnology company’s stock after selling 10,352 shares during the period. Rice Hall James & Associates LLC’s holdings in BioMarin Pharmaceutical were worth $726,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in BMRN. Principal Financial Group Inc. increased its holdings in shares of BioMarin Pharmaceutical by 11.6% during the first quarter. Principal Financial Group Inc. now owns 33,159 shares of the biotechnology company’s stock worth $2,896,000 after purchasing an additional 3,453 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of BioMarin Pharmaceutical by 6.6% during the first quarter. Commonwealth Equity Services LLC now owns 7,290 shares of the biotechnology company’s stock worth $637,000 after purchasing an additional 454 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in BioMarin Pharmaceutical by 110.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,081 shares of the biotechnology company’s stock valued at $9,834,000 after acquiring an additional 56,784 shares during the last quarter. Nordea Investment Management AB increased its stake in BioMarin Pharmaceutical by 17.9% in the first quarter. Nordea Investment Management AB now owns 13,675 shares of the biotechnology company’s stock valued at $1,207,000 after acquiring an additional 2,081 shares during the last quarter. Finally, FORA Capital LLC increased its stake in BioMarin Pharmaceutical by 26.5% in the first quarter. FORA Capital LLC now owns 27,823 shares of the biotechnology company’s stock valued at $2,430,000 after acquiring an additional 5,822 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $66.60 on Friday. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of 39.88, a PEG ratio of 0.77 and a beta of 0.31. The company has a quick ratio of 1.95, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 12-month low of $65.35 and a 12-month high of $99.56. The company’s fifty day simple moving average is $75.13 and its 200 day simple moving average is $80.67.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The firm had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. During the same quarter in the previous year, the firm earned $0.26 EPS. BioMarin Pharmaceutical’s quarterly revenue was up 28.4% on a year-over-year basis. On average, analysts expect that BioMarin Pharmaceutical Inc. will post 2.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BMRN. Wells Fargo & Company decreased their price objective on shares of BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 17th. Cantor Fitzgerald decreased their price objective on shares of BioMarin Pharmaceutical from $110.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $80.00 price objective on shares of BioMarin Pharmaceutical in a research note on Wednesday. Evercore ISI cut their target price on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Citigroup cut their target price on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and a consensus target price of $93.67.

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.