Los Angeles Capital Management LLC Invests $710,000 in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Los Angeles Capital Management LLC purchased a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 10,098 shares of the biotechnology company’s stock, valued at approximately $710,000.

A number of other institutional investors also recently bought and sold shares of BMRN. Innealta Capital LLC bought a new position in shares of BioMarin Pharmaceutical in the 2nd quarter worth approximately $25,000. BOKF NA purchased a new position in BioMarin Pharmaceutical during the second quarter valued at $31,000. Quent Capital LLC boosted its holdings in shares of BioMarin Pharmaceutical by 58.9% during the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 145 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter worth about $28,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of BioMarin Pharmaceutical in the 2nd quarter worth about $47,000. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $63.42 on Friday. The firm has a market capitalization of $12.09 billion, a P/E ratio of 38.85, a PEG ratio of 0.66 and a beta of 0.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. BioMarin Pharmaceutical Inc. has a one year low of $63.22 and a one year high of $99.56. The business has a fifty day moving average of $70.85 and a 200 day moving average of $79.28.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The firm had revenue of $746.00 million for the quarter, compared to the consensus estimate of $703.37 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. The company’s revenue for the quarter was up 28.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.47 EPS for the current year.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 5,278 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the transaction, the executive vice president now directly owns 68,909 shares in the company, valued at approximately $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.85% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group decreased their target price on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. JPMorgan Chase & Co. reduced their price objective on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Sanford C. Bernstein cut their target price on BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 17th. 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. Finally, Evercore ISI dropped their price target on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $94.20.

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.