Comgest Global Investors S.A.S. Has $713,000 Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Comgest Global Investors S.A.S. decreased its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 93.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 10,147 shares of the biotechnology company’s stock after selling 142,630 shares during the period. Comgest Global Investors S.A.S.’s holdings in BioMarin Pharmaceutical were worth $713,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Empowered Funds LLC bought a new position in shares of BioMarin Pharmaceutical during the 1st quarter worth approximately $208,000. Avantax Advisory Services Inc. acquired a new stake in shares of BioMarin Pharmaceutical during the first quarter worth $298,000. ProShare Advisors LLC lifted its holdings in BioMarin Pharmaceutical by 9.8% during the first quarter. ProShare Advisors LLC now owns 13,221 shares of the biotechnology company’s stock worth $1,155,000 after acquiring an additional 1,185 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in BioMarin Pharmaceutical by 1.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 216,274 shares of the biotechnology company’s stock worth $18,889,000 after acquiring an additional 2,884 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in BioMarin Pharmaceutical by 27.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 106,755 shares of the biotechnology company’s stock worth $9,324,000 after acquiring an additional 23,156 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on BMRN. Canaccord Genuity Group lowered their target price on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Raymond James reaffirmed an “outperform” rating and issued a $79.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, October 10th. Wedbush upgraded BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Monday, November 4th. Robert W. Baird cut their target price on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Finally, Barclays cut their target price on BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.20.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total transaction of $350,300.86. Following the sale, the executive vice president now owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.85% of the stock is owned by company insiders.

BioMarin Pharmaceutical Stock Down 3.3 %

Shares of NASDAQ BMRN traded down $2.18 during trading hours on Friday, hitting $63.42. 1,687,439 shares of the stock were exchanged, compared to its average volume of 1,830,490. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 12 month low of $63.22 and a 12 month high of $99.56. The company has a market cap of $12.09 billion, a PE ratio of 37.98, a PEG ratio of 0.66 and a beta of 0.31. The firm has a fifty day moving average price of $70.43 and a 200-day moving average price of $79.15.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 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 business had revenue of $746.00 million during the quarter, compared to analysts’ expectations of $703.37 million. During the same period last year, the company earned $0.26 earnings per share. The firm’s revenue was up 28.4% on a year-over-year basis. On average, sell-side analysts expect that BioMarin Pharmaceutical Inc. will post 2.47 EPS for the current year.

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.