Susquehanna Fundamental Investments LLC Acquires Shares of 68,346 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Susquehanna Fundamental Investments LLC acquired a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 68,346 shares of the biotechnology company's stock, valued at approximately $5,627,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BMRN. Innealta Capital LLC bought a new stake in BioMarin Pharmaceutical in the second quarter valued at approximately $25,000. BOKF NA purchased a new stake in BioMarin Pharmaceutical in the second quarter worth $31,000. Quent Capital LLC lifted its stake in BioMarin Pharmaceutical by 58.9% in the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 145 shares during the period. Jones Financial Companies Lllp purchased a new stake in BioMarin Pharmaceutical in the fourth quarter worth $43,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in BioMarin Pharmaceutical in the second quarter worth $47,000. Institutional investors own 98.71% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on BMRN. StockNews.com upgraded BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a report on Thursday, August 8th. Canaccord Genuity Group reiterated a "hold" rating and issued a $93.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, September 13th. Stifel Nicolaus reduced their price target on BioMarin Pharmaceutical from $115.00 to $87.00 and set a "buy" rating for the company in a report on Tuesday, September 17th. TD Cowen reduced their price objective on BioMarin Pharmaceutical from $125.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, August 6th. Finally, Sanford C. Bernstein reduced their price objective on BioMarin Pharmaceutical from $116.00 to $90.00 and set an "outperform" rating for the company in a report on Tuesday, September 17th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of "Moderate Buy" and an average price target of $98.84.

BioMarin Pharmaceutical Price Performance

BMRN traded up $0.34 during midday trading on Friday, hitting $70.58. 1,094,529 shares of the company traded hands, compared to its average volume of 1,910,059. 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 company has a market capitalization of $13.40 billion, a price-to-earnings ratio of 65.96, a PEG ratio of 0.80 and a beta of 0.32. BioMarin Pharmaceutical Inc. has a 52-week low of $67.75 and a 52-week high of $99.56. The business has a 50 day simple moving average of $84.09 and a two-hundred day simple moving average of $83.70.

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

BioMarin Pharmaceutical 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.