Stratos Wealth Advisors LLC Has $1.46 Million Stock Position in BioMarin Pharmaceutical Inc. $BMRN

Stratos Wealth Advisors LLC reduced its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 23.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,870 shares of the biotechnology company’s stock after selling 8,398 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in BioMarin Pharmaceutical were worth $1,455,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Quent Capital LLC bought a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth about $28,000. Smartleaf Asset Management LLC grew its position in BioMarin Pharmaceutical by 92.5% during the third quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock worth $40,000 after buying an additional 360 shares in the last quarter. Hantz Financial Services Inc. increased its stake in BioMarin Pharmaceutical by 480.2% during the second quarter. Hantz Financial Services Inc. now owns 1,056 shares of the biotechnology company’s stock valued at $58,000 after acquiring an additional 874 shares during the period. Employees Retirement System of Texas bought a new position in BioMarin Pharmaceutical during the second quarter valued at about $58,000. Finally, Jones Financial Companies Lllp raised its holdings in BioMarin Pharmaceutical by 88.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,401 shares of the biotechnology company’s stock valued at $75,000 after acquiring an additional 656 shares in the last quarter. 98.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BMRN has been the topic of several recent research reports. Tudor Pickering set a $88.00 price objective on BioMarin Pharmaceutical in a report on Monday, November 3rd. Wall Street Zen cut BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Morgan Stanley lowered their price target on shares of BioMarin Pharmaceutical from $104.00 to $98.00 and set an “overweight” rating on the stock in a report on Tuesday, October 28th. HC Wainwright increased their price objective on shares of BioMarin Pharmaceutical from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, December 22nd. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $66.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, October 28th. Seventeen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.29.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN opened at $59.94 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.83 and a quick ratio of 3.10. The business’s fifty day moving average price is $57.12 and its two-hundred day moving average price is $55.97. BioMarin Pharmaceutical Inc. has a fifty-two week low of $50.76 and a fifty-two week high of $73.51. The stock has a market capitalization of $11.52 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 0.66 and a beta of 0.26.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.