First Trust Advisors LP Raises Holdings in BioMarin Pharmaceutical Inc. $BMRN

First Trust Advisors LP increased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 10.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 738,482 shares of the biotechnology company’s stock after buying an additional 69,001 shares during the period. First Trust Advisors LP owned about 0.38% of BioMarin Pharmaceutical worth $40,594,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. increased its position in BioMarin Pharmaceutical by 0.9% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,523 shares of the biotechnology company’s stock valued at $1,592,000 after purchasing an additional 197 shares during the period. Securian Asset Management Inc. boosted its stake in shares of BioMarin Pharmaceutical by 1.4% during the second quarter. Securian Asset Management Inc. now owns 14,604 shares of the biotechnology company’s stock valued at $803,000 after purchasing an additional 197 shares in the last quarter. Sittner & Nelson LLC increased its holdings in BioMarin Pharmaceutical by 6.9% during the second quarter. Sittner & Nelson LLC now owns 3,100 shares of the biotechnology company’s stock valued at $170,000 after buying an additional 200 shares during the period. Nissay Asset Management Corp Japan ADV increased its holdings in BioMarin Pharmaceutical by 1.2% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 23,536 shares of the biotechnology company’s stock valued at $1,664,000 after buying an additional 283 shares during the period. Finally, D.A. Davidson & CO. raised its stake in BioMarin Pharmaceutical by 4.9% in the second quarter. D.A. Davidson & CO. now owns 7,119 shares of the biotechnology company’s stock worth $391,000 after buying an additional 331 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Trading Up 0.8%

NASDAQ:BMRN opened at $53.74 on Wednesday. The company has a market capitalization of $10.32 billion, a P/E ratio of 20.20, a PEG ratio of 0.89 and a beta of 0.30. The company has a current ratio of 4.83, a quick ratio of 3.10 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical Inc. has a 12 month low of $50.76 and a 12 month high of $73.51. The firm has a fifty day simple moving average of $53.84 and a 200-day simple moving average of $55.83.

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

Analyst Ratings Changes

Several brokerages have issued reports on BMRN. Sanford C. Bernstein dropped their target price on BioMarin Pharmaceutical from $95.00 to $88.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Raymond James Financial began coverage on BioMarin Pharmaceutical in a research note on Wednesday, September 3rd. They set an “outperform” rating and a $85.00 price objective for the company. Wells Fargo & Company cut their target price on BioMarin Pharmaceutical from $90.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 28th. Weiss Ratings reiterated a “sell (d)” rating on shares of BioMarin Pharmaceutical in a report on Monday. Finally, Tudor Pickering set a $88.00 price target on shares of BioMarin Pharmaceutical in a research report on Monday, November 3rd. Sixteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $88.61.

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.