MQS Management LLC Makes New $561,000 Investment in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

MQS Management LLC bought a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,818 shares of the biotechnology company’s stock, valued at approximately $561,000.

A number of other large investors have also recently made changes to their positions in the stock. Innealta Capital LLC purchased a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter worth $25,000. BOKF NA purchased a new stake in BioMarin Pharmaceutical in the second quarter worth about $31,000. Quent Capital LLC increased its position in BioMarin Pharmaceutical by 58.9% during the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 145 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of BioMarin Pharmaceutical in the 4th quarter worth approximately $43,000. Finally, Scarborough Advisors LLC bought a new position in shares of BioMarin Pharmaceutical in the 4th quarter worth $71,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on BMRN shares. Stifel Nicolaus lowered their price target on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday. Bank of America cut their price target on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on BioMarin Pharmaceutical from $111.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. TD Cowen dropped their target price on BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Evercore ISI upped their target price on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.84.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $71.14 on Thursday. The firm has a 50-day simple moving average of $86.11 and a 200-day simple moving average of $84.49. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $13.51 billion, a price-to-earnings ratio of 66.49, a price-to-earnings-growth ratio of 1.03 and a beta of 0.32. BioMarin Pharmaceutical Inc. has a 52 week low of $68.83 and a 52 week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.39. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. The company had revenue of $712.03 million during the quarter, compared to the consensus estimate of $660.51 million. On average, equities analysts predict that BioMarin Pharmaceutical Inc. will post 2.4 earnings per share for the current fiscal year.

About BioMarin Pharmaceutical

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.