Intech Investment Management LLC Has $4.78 Million Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Intech Investment Management LLC boosted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 59.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 58,023 shares of the biotechnology company’s stock after purchasing an additional 21,669 shares during the period. Intech Investment Management LLC’s holdings in BioMarin Pharmaceutical were worth $4,777,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at approximately $25,000. BOKF NA acquired a new stake in BioMarin Pharmaceutical in the second quarter valued at $31,000. Quent Capital LLC grew its position in shares of 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 acquiring an additional 145 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth about $43,000. Finally, AM Squared Ltd bought a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at about $66,000. 98.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on BMRN. Wells Fargo & Company lowered their price target on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 17th. Scotiabank dropped their price target on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a research note on Tuesday, September 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $110.00 price objective on shares of BioMarin Pharmaceutical in a research report on Monday, September 9th. Evercore ISI increased their price objective on shares of BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Eight research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.84.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $70.69 on Friday. The company’s 50-day moving average price is $85.57 and its two-hundred day moving average price is $84.27. The firm has a market cap of $13.42 billion, a P/E ratio of 66.07, a P/E/G ratio of 1.03 and a beta of 0.32. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 12 month low of $68.83 and a 12 month high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (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 business had revenue of $712.03 million for the quarter, compared to analysts’ expectations of $660.51 million. On average, analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.4 earnings per share for the current fiscal year.

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.