1832 Asset Management L.P. Acquires Shares of 26,034 BioMarin Pharmaceutical Inc. $BMRN

1832 Asset Management L.P. acquired a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 26,034 shares of the biotechnology company’s stock, valued at approximately $1,431,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in BioMarin Pharmaceutical in the 1st quarter valued at about $184,475,000. Norges Bank bought a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $112,352,000. AQR Capital Management LLC boosted its holdings in shares of BioMarin Pharmaceutical by 127.9% in the first quarter. AQR Capital Management LLC now owns 2,925,805 shares of the biotechnology company’s stock worth $203,987,000 after acquiring an additional 1,642,206 shares during the period. Goldman Sachs Group Inc. boosted its stake in BioMarin Pharmaceutical by 212.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company’s stock worth $112,607,000 after purchasing an additional 1,083,512 shares during the period. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in BioMarin Pharmaceutical in the 1st quarter worth approximately $59,125,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ BMRN opened at $53.40 on Friday. The firm’s 50-day moving average price is $53.86 and its 200-day moving average price is $55.91. BioMarin Pharmaceutical Inc. has a 52-week low of $50.76 and a 52-week high of $73.51. The company has a market cap of $10.26 billion, a PE ratio of 20.08, a PEG ratio of 0.89 and a beta of 0.30. The company has a quick ratio of 3.10, a current ratio of 4.83 and a debt-to-equity ratio of 0.10.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Monday, October 27th. The biotechnology company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.20). The company had revenue of $776.13 million for the quarter, compared to the consensus estimate of $782.42 million. BioMarin Pharmaceutical had a net margin of 16.82% and a return on equity of 9.53%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the company earned $0.91 EPS. BioMarin Pharmaceutical has set its FY 2025 guidance at 3.500-3.600 EPS. As a group, analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on BMRN. Truist Financial lowered their target price on shares of BioMarin Pharmaceutical from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, October 28th. JPMorgan Chase & Co. upped their price target on shares of BioMarin Pharmaceutical from $116.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. Tudor Pickering set a $88.00 price objective on BioMarin Pharmaceutical in a research report on Monday, November 3rd. Wolfe Research restated an “outperform” rating on shares of BioMarin Pharmaceutical in a report on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of BioMarin Pharmaceutical in a research report on Monday, December 1st. Sixteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus price target of $88.61.

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.