Rice Hall James & Associates LLC reduced its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 50.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,327 shares of the biotechnology company's stock after selling 10,352 shares during the quarter. Rice Hall James & Associates LLC's holdings in BioMarin Pharmaceutical were worth $726,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BMRN. Innealta Capital LLC acquired a new position in shares of BioMarin Pharmaceutical in the 2nd quarter worth approximately $25,000. nVerses Capital LLC acquired a new position in BioMarin Pharmaceutical during the 3rd quarter worth $28,000. BOKF NA acquired a new position in BioMarin Pharmaceutical during the 2nd quarter worth $31,000. Quent Capital LLC lifted its holdings in BioMarin Pharmaceutical by 58.9% during the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock worth $32,000 after buying an additional 145 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in BioMarin Pharmaceutical during the 2nd quarter worth $47,000. 98.71% of the stock is owned by institutional investors and hedge funds.

BMRN has been the topic of several research reports. TD Cowen reduced their price objective on BioMarin Pharmaceutical from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Tuesday, August 6th. Raymond James reiterated an "outperform" rating and set a $79.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, October 10th. Barclays dropped their target price on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an "overweight" rating for the company in a research report on Friday, October 4th. Scotiabank dropped their target price on shares of BioMarin Pharmaceutical from $95.00 to $78.00 and set a "sector perform" rating for the company in a research report on Tuesday, September 17th. Finally, Citigroup lowered their price objective on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a "neutral" rating for the company in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $93.67.

Check Out Our Latest Analysis on BMRN

BioMarin Pharmaceutical stock opened at $66.60 on Friday. The firm has a 50-day moving average of $75.13 and a 200-day moving average of $80.67. BioMarin Pharmaceutical Inc. has a one year low of $65.35 and a one year high of $99.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 1.95. The company has a market cap of $12.65 billion, a price-to-earnings ratio of 39.88, a P/E/G ratio of 0.77 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued 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 last year, the business posted $0.26 earnings per share. The company's revenue for the quarter was up 28.4% on a year-over-year basis. On average, equities analysts expect that BioMarin Pharmaceutical Inc. will post 2.39 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider BioMarin Pharmaceutical, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and BioMarin Pharmaceutical wasn't on the list.

While BioMarin Pharmaceutical currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.