WCM Investment Management LLC Sells 8,048 Shares of BioMarin Pharmaceutical Inc. $BMRN

WCM Investment Management LLC reduced its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 46.4% in the second quarter, Holdings Channel.com reports. The fund owned 9,305 shares of the biotechnology company’s stock after selling 8,048 shares during the quarter. WCM Investment Management LLC’s holdings in BioMarin Pharmaceutical were worth $513,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Byrne Financial Freedom LLC increased its stake in shares of BioMarin Pharmaceutical by 4.4% in the first quarter. Byrne Financial Freedom LLC now owns 3,852 shares of the biotechnology company’s stock worth $272,000 after buying an additional 161 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in BioMarin Pharmaceutical by 0.9% in 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 acquiring an additional 197 shares in the last quarter. Xponance Inc. boosted its holdings in BioMarin Pharmaceutical by 0.6% in the first quarter. Xponance Inc. now owns 31,877 shares of the biotechnology company’s stock valued at $2,253,000 after acquiring an additional 202 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of BioMarin Pharmaceutical by 95.9% during the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 211 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of BioMarin Pharmaceutical by 5.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 4,572 shares of the biotechnology company’s stock valued at $323,000 after buying an additional 217 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BMRN. Wolfe Research set a $95.00 price target on shares of BioMarin Pharmaceutical and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Zacks Research lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. increased their target price on shares of BioMarin Pharmaceutical from $116.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, October 9th. Guggenheim increased their target price on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Finally, HC Wainwright assumed coverage on shares of BioMarin Pharmaceutical in a research report on Monday, September 8th. They set a “neutral” rating and a $60.00 price objective on the stock. Thirteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.26.

BioMarin Pharmaceutical Trading Down 0.3%

Shares of BMRN opened at $52.95 on Friday. BioMarin Pharmaceutical Inc. has a twelve month low of $51.56 and a twelve month high of $73.51. The company has a market cap of $10.17 billion, a P/E ratio of 15.71, a P/E/G ratio of 0.67 and a beta of 0.33. The company has a current ratio of 5.56, a quick ratio of 3.60 and a debt-to-equity ratio of 0.10. The company’s fifty day simple moving average is $55.74 and its 200-day simple moving average is $57.67.

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.