Ameritas Investment Partners Inc. Makes New Investment in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

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

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. AMI Asset Management Corp lifted its stake in shares of BioMarin Pharmaceutical by 51.9% in the 1st quarter. AMI Asset Management Corp now owns 346,189 shares of the biotechnology company's stock valued at $30,236,000 after acquiring an additional 118,230 shares during the last quarter. AGF Management Ltd. bought a new position in BioMarin Pharmaceutical in the second quarter valued at about $2,563,000. Fisher Asset Management LLC acquired a new stake in shares of BioMarin Pharmaceutical during the fourth quarter valued at about $1,301,000. APG Asset Management US Inc. bought a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth about $3,462,000. Finally, Bridgewater Associates LP increased its stake in shares of BioMarin Pharmaceutical by 18.3% in the fourth 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 during the period. Institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Stock Down 1.0 %

Shares of BMRN traded down $0.72 during trading hours on Friday, hitting $70.69. The stock had a trading volume of 3,398,035 shares, compared to its average volume of 1,916,588. BioMarin Pharmaceutical Inc. has a 1-year low of $68.83 and a 1-year high of $99.56. The firm has a market capitalization of $13.42 billion, a P/E ratio of 66.07, a price-to-earnings-growth ratio of 1.03 and a beta of 0.32. The firm has a 50 day simple moving average of $85.57 and a 200-day simple moving average of $84.27. 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 (NASDAQ:BMRN - Get Free Report) last announced 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 return on equity of 6.91% and a net margin of 9.91%. The firm had revenue of $712.03 million during the quarter, compared to analysts' expectations of $660.51 million. Sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 2.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an "overweight" rating in a report on Thursday, September 5th. Truist Financial reduced their price objective on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a "buy" rating on the stock in a research note on Tuesday, September 17th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $110.00 target price on shares of BioMarin Pharmaceutical in a research report on Monday, September 9th. JPMorgan Chase & Co. lifted their target price on BioMarin Pharmaceutical from $111.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, September 5th. Finally, Scotiabank lowered their price objective 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 research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $98.84.

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.