TD Asset Management Inc Sells 17,881 Shares of BioMarin Pharmaceutical Inc. $BMRN

Key Points

• TD Asset Management Inc reduced its stake in BioMarin Pharmaceutical by 50.9%, selling 17,881 shares during the 2nd quarter, leaving it with 17,241 shares valued at $948,000.
• Other institutional investors also adjusted their holdings, with notable increases from Credit Industriel ET Commercial (up 14.3%) and CWM LLC (up 46.4%).
• Analysts have mixed views on BioMarin, with UBS Group raising its price target to $114 while Zacks Research downgraded it from a "strong-buy" to a "hold" rating.

TD Asset Management Inc lessened its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 50.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,241 shares of the biotechnology company's stock after selling 17,881 shares during the period. TD Asset Management Inc's holdings in BioMarin Pharmaceutical were worth $948,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Credit Industriel ET Commercial lifted its stake in BioMarin Pharmaceutical by 14.3% in the 2nd quarter. Credit Industriel ET Commercial now owns 40,013 shares of the biotechnology company's stock valued at $2,200,000 after acquiring an additional 5,000 shares in the last quarter. NorthRock Partners LLC bought a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at approximately $266,000. CWM LLC lifted its stake in BioMarin Pharmaceutical by 46.4% in the 2nd quarter. CWM LLC now owns 87,955 shares of the biotechnology company's stock valued at $4,835,000 after acquiring an additional 27,894 shares in the last quarter. Board of the Pension Protection Fund bought a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at approximately $445,000. Finally, waypoint wealth counsel bought a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at approximately $239,000. Institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Trading Down 0.8%

NASDAQ BMRN opened at $53.37 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.60. BioMarin Pharmaceutical Inc. has a one year low of $51.56 and a one year high of $73.51. The business has a 50 day simple moving average of $55.42 and a 200 day simple moving average of $57.32. The stock has a market capitalization of $10.25 billion, a P/E ratio of 15.84, a P/E/G ratio of 0.68 and a beta of 0.33.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BMRN shares. UBS Group upped their price objective on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Zacks Research cut BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Raymond James Financial started coverage on BioMarin Pharmaceutical in a research note on Wednesday, September 3rd. They set an "outperform" rating and a $85.00 price objective on the stock. Weiss Ratings reiterated a "sell (d+)" rating on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their target price on BioMarin Pharmaceutical from $116.00 to $119.00 and gave the stock an "overweight" rating in a report on Thursday, October 9th. Thirteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $93.26.

BioMarin Pharmaceutical 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.

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