Lecap Asset Management Ltd. Purchases Shares of 14,355 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Lecap Asset Management Ltd. bought a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,355 shares of the biotechnology company’s stock, valued at approximately $1,009,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of BioMarin Pharmaceutical by 1.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock worth $932,000 after purchasing an additional 130 shares during the period. Quent Capital LLC lifted 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 worth $32,000 after acquiring an additional 145 shares during the period. SteelPeak Wealth LLC raised its stake in shares of BioMarin Pharmaceutical by 10.9% in the first quarter. SteelPeak Wealth LLC now owns 2,498 shares of the biotechnology company’s stock valued at $218,000 after purchasing an additional 246 shares in the last quarter. Grandfield & Dodd LLC raised its position in BioMarin Pharmaceutical by 1.6% in the first quarter. Grandfield & Dodd LLC now owns 16,127 shares of the biotechnology company’s stock worth $1,409,000 after purchasing an additional 255 shares in the last quarter. Finally, AIA Group Ltd raised its holdings in shares of BioMarin Pharmaceutical by 7.0% in the 1st quarter. AIA Group Ltd now owns 4,076 shares of the biotechnology company’s stock worth $356,000 after buying an additional 266 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Down 0.8 %

BMRN stock opened at $69.98 on Thursday. The stock’s 50 day simple moving average is $78.30 and its 200 day simple moving average is $81.67. BioMarin Pharmaceutical Inc. has a fifty-two week low of $67.75 and a fifty-two week high of $99.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05. The company has a market cap of $13.29 billion, a P/E ratio of 65.40, a price-to-earnings-growth ratio of 0.81 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results 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. The business had revenue of $712.03 million during the quarter, compared to the consensus estimate of $660.51 million. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. On average, research analysts expect that BioMarin Pharmaceutical Inc. will post 2.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BMRN. Bank of America cut their price target on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Scotiabank lowered their price target on shares of 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. JPMorgan Chase & Co. upped their price objective on BioMarin Pharmaceutical from $111.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Royal Bank of Canada cut their target price on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Finally, Stifel Nicolaus dropped their target price on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $96.40.

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.