Stratos Wealth Advisors LLC Reduces Stake in BioMarin Pharmaceutical Inc. $BMRN

Stratos Wealth Advisors LLC reduced its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 35,268 shares of the biotechnology company’s stock after selling 400 shares during the period. Stratos Wealth Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $1,939,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in BioMarin Pharmaceutical by 212.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company’s stock valued at $112,607,000 after purchasing an additional 1,083,512 shares in the last quarter. Covea Finance grew its holdings in BioMarin Pharmaceutical by 27.3% during the 2nd quarter. Covea Finance now owns 135,300 shares of the biotechnology company’s stock valued at $7,437,000 after buying an additional 29,000 shares during the last quarter. GAMMA Investing LLC grew its holdings in BioMarin Pharmaceutical by 154.0% during the 1st quarter. GAMMA Investing LLC now owns 3,129 shares of the biotechnology company’s stock valued at $221,000 after buying an additional 1,897 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in BioMarin Pharmaceutical by 12.3% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 97,261 shares of the biotechnology company’s stock valued at $6,875,000 after buying an additional 10,687 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in BioMarin Pharmaceutical by 0.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,064,924 shares of the biotechnology company’s stock valued at $75,279,000 after buying an additional 9,837 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $53.29 on Friday. BioMarin Pharmaceutical Inc. has a 52-week low of $51.56 and a 52-week high of $73.51. The stock’s fifty day simple moving average is $55.66 and its 200-day simple moving average is $57.56. 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 stock has a market capitalization 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.

Wall Street Analyst Weigh In

BMRN has been the topic of a number of analyst reports. Wolfe Research set a $95.00 target price on BioMarin Pharmaceutical and gave the company an “outperform” rating in a report on Tuesday, July 15th. Wedbush reiterated an “outperform” rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday, August 5th. Wall Street Zen cut BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 11th. Morgan Stanley lowered their target price on BioMarin Pharmaceutical from $97.00 to $96.00 and set an “overweight” rating on the stock in a report on Tuesday, July 22nd. Finally, Zacks Research cut BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Thirteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.26.

About BioMarin Pharmaceutical

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.