Lighthouse Investment Partners LLC Buys Shares of 63,000 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Lighthouse Investment Partners LLC acquired a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the 2nd quarter, according to 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 large investors have also bought and sold shares of BMRN. AMI Asset Management Corp boosted its position in BioMarin Pharmaceutical by 51.9% during the 1st quarter. AMI Asset Management Corp now owns 346,189 shares of the biotechnology company's stock worth $30,236,000 after buying an additional 118,230 shares during the period. AGF Management Ltd. acquired a new position in BioMarin Pharmaceutical in the second quarter valued at $2,563,000. Fisher Asset Management LLC bought a new stake in BioMarin Pharmaceutical during the fourth quarter valued at $1,301,000. APG Asset Management US Inc. acquired a new stake in BioMarin Pharmaceutical during the 4th quarter worth about $3,462,000. Finally, Bridgewater Associates LP raised its position in shares of BioMarin Pharmaceutical by 18.3% in the 4th quarter. Bridgewater Associates LP now owns 190,970 shares of the biotechnology company's stock worth $18,413,000 after acquiring an additional 29,576 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BMRN shares. Barclays decreased their target price 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. StockNews.com raised shares of BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a research report on Thursday, August 8th. Bank of America dropped their target price on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Tuesday, September 17th. Sanford C. Bernstein reduced their price target on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an "outperform" rating for the company in a report on Tuesday, September 17th. Finally, William Blair raised shares of BioMarin Pharmaceutical to a "strong-buy" rating in a research note on Friday, August 30th. Eight equities research 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $98.84.

BioMarin Pharmaceutical Stock Up 0.5 %

Shares of BMRN traded up $0.34 during trading hours on Friday, reaching $70.58. 1,094,529 shares of the stock traded hands, compared to its average volume of 1,910,059. BioMarin Pharmaceutical Inc. has a 52 week low of $67.75 and a 52 week high of $99.56. The company has a market cap of $13.40 billion, a price-to-earnings ratio of 65.96, a PEG ratio of 0.80 and a beta of 0.32. The stock has a fifty day simple moving average of $84.09 and a 200 day simple moving average of $83.72. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its earnings results on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.38 by $0.39. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. The firm had revenue of $712.03 million for the quarter, compared to analysts' expectations of $660.51 million. On average, equities analysts forecast that BioMarin Pharmaceutical Inc. will post 2.39 EPS for the current 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.