Lighthouse Investment Partners LLC Makes New $5.19 Million Investment in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Lighthouse Investment Partners LLC acquired a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 63,000 shares of the biotechnology company’s stock, valued at approximately $5,187,000.

Several other hedge funds have also bought and sold shares of the stock. AMI Asset Management Corp lifted its position in shares of BioMarin Pharmaceutical by 51.9% during the 1st quarter. AMI Asset Management Corp now owns 346,189 shares of the biotechnology company’s stock valued at $30,236,000 after buying an additional 118,230 shares in the last quarter. AGF Management Ltd. purchased a new position in shares of BioMarin Pharmaceutical during the 2nd quarter valued at approximately $2,563,000. Fisher Asset Management LLC purchased a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at approximately $1,301,000. APG Asset Management US Inc. purchased a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at approximately $3,462,000. Finally, Bridgewater Associates LP lifted its position in shares of BioMarin Pharmaceutical by 18.3% during the 4th quarter. Bridgewater Associates LP now owns 190,970 shares of the biotechnology company’s stock valued at $18,413,000 after buying an additional 29,576 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Up 0.5 %

Shares of NASDAQ BMRN opened at $70.58 on Friday. The company has a 50 day simple moving average of $84.36 and a 200-day simple moving average of $83.82. The company has a market capitalization of $13.40 billion, a P/E ratio of 65.96, a P/E/G ratio of 0.80 and a beta of 0.32. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 1.95. BioMarin Pharmaceutical Inc. has a 1 year low of $67.75 and a 1 year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.39. The business had revenue of $712.03 million during the quarter, compared to the consensus estimate of $660.51 million. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. On average, equities research analysts predict that BioMarin Pharmaceutical Inc. will post 2.39 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BMRN. Bank of America decreased their target price on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Barclays decreased their target price on BioMarin Pharmaceutical from $111.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Royal Bank of Canada lowered their target price on shares of BioMarin Pharmaceutical from $100.00 to $85.00 and set a “sector perform” rating on the stock in a research note on Tuesday, September 17th. Evercore ISI upped their target price on shares of BioMarin Pharmaceutical from $113.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, August 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $110.00 target price on shares of BioMarin Pharmaceutical in a report on Monday, September 9th. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.84.

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.