Ameritas Investment Partners Inc. Invests $3.33 Million in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Ameritas Investment Partners Inc. bought a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 40,387 shares of the biotechnology company’s stock, valued at approximately $3,325,000.

Other large investors have also bought and sold shares of the company. Innealta Capital LLC bought a new position in BioMarin Pharmaceutical in the second quarter worth approximately $25,000. BOKF NA bought a new position in shares of BioMarin Pharmaceutical in the 2nd quarter worth $31,000. Quent Capital LLC grew its position in BioMarin Pharmaceutical by 58.9% in 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 bought a new stake in BioMarin Pharmaceutical during the 4th quarter valued at $43,000. Finally, AM Squared Ltd acquired a new position in BioMarin Pharmaceutical during the second quarter worth $66,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $70.69 on Friday. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $85.57 and a two-hundred day simple moving average of $84.27. BioMarin Pharmaceutical Inc. has a 1-year low of $68.83 and a 1-year high of $99.56. The firm has a market cap of $13.42 billion, a price-to-earnings ratio of 66.07, a price-to-earnings-growth ratio of 1.03 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results 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 return on equity of 6.91% and a net margin of 9.91%. The firm had revenue of $712.03 million for the quarter, compared to analysts’ expectations of $660.51 million. Analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Truist Financial reduced their price objective on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Barclays cut their price target on BioMarin Pharmaceutical from $111.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Wells Fargo & Company lowered their price objective on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Royal Bank of Canada cut their target price on BioMarin Pharmaceutical from $100.00 to $85.00 and set a “sector perform” rating on the stock in a research report on Tuesday, September 17th. Finally, Scotiabank lowered their price target on 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. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.84.

BioMarin Pharmaceutical Company 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.