AQR Capital Management LLC Acquires 2,654,768 Shares of BioMarin Pharmaceutical Inc. $BMRN

AQR Capital Management LLC boosted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 90.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,580,573 shares of the biotechnology company’s stock after buying an additional 2,654,768 shares during the period. AQR Capital Management LLC owned approximately 2.91% of BioMarin Pharmaceutical worth $306,429,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of BioMarin Pharmaceutical by 0.9% in the first 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 in the last quarter. Securian Asset Management Inc. grew its stake in shares of BioMarin Pharmaceutical by 1.4% in the second quarter. Securian Asset Management Inc. now owns 14,604 shares of the biotechnology company’s stock valued at $803,000 after buying 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 worth $170,000 after buying an additional 200 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its position 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 worth $1,664,000 after acquiring an additional 283 shares in the last quarter. Finally, D.A. Davidson & CO. lifted 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 valued at $391,000 after acquiring an additional 331 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BMRN shares. Wall Street Zen cut BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings reiterated a “sell (d)” rating on shares of BioMarin Pharmaceutical in a research note on Monday. Leerink Partnrs cut BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 3rd. Wells Fargo & Company cut their price target on BioMarin Pharmaceutical from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. upped their price objective 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. Sixteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.61.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN opened at $53.31 on Friday. BioMarin Pharmaceutical Inc. has a 1 year low of $50.76 and a 1 year high of $73.51. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.83 and a quick ratio of 3.10. The company’s 50 day simple moving average is $53.72 and its 200 day simple moving average is $55.77. The stock has a market capitalization of $10.24 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 0.88 and a beta of 0.30.

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

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.