BioMarin Pharmaceutical Inc. $BMRN Holdings Lowered by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP cut its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 10.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 526,420 shares of the biotechnology company’s stock after selling 60,425 shares during the period. Hudson Bay Capital Management LP owned approximately 0.27% of BioMarin Pharmaceutical worth $28,937,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Dodge & Cox lifted its position in BioMarin Pharmaceutical by 1.0% in the second quarter. Dodge & Cox now owns 15,108,310 shares of the biotechnology company’s stock worth $830,504,000 after purchasing an additional 153,070 shares during the period. Viking Global Investors LP raised its stake in shares of BioMarin Pharmaceutical by 13.8% in the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock worth $675,505,000 after buying an additional 1,488,552 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of BioMarin Pharmaceutical by 90.7% in the 2nd quarter. AQR Capital Management LLC now owns 5,580,573 shares of the biotechnology company’s stock worth $306,429,000 after buying an additional 2,654,768 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of BioMarin Pharmaceutical by 1.3% in the second quarter. Geode Capital Management LLC now owns 3,474,438 shares of the biotechnology company’s stock valued at $190,417,000 after buying an additional 43,185 shares during the period. Finally, Norges Bank bought a new position in BioMarin Pharmaceutical during the second quarter valued at about $112,352,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BMRN shares. Sanford C. Bernstein cut their price target on shares of BioMarin Pharmaceutical from $95.00 to $88.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Truist Financial dropped their target price on shares of BioMarin Pharmaceutical from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, October 28th. Wall Street Zen cut shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings restated a “sell (d)” rating on shares of BioMarin Pharmaceutical in a research report on Monday, December 8th. Finally, Raymond James Financial started coverage on BioMarin Pharmaceutical in a research report on Wednesday, September 3rd. They set an “outperform” rating and a $85.00 price objective for the company. Sixteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price of $88.61.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $53.31 on Friday. BioMarin Pharmaceutical Inc. has a fifty-two week low of $50.76 and a fifty-two week high of $73.51. The firm’s 50 day simple moving average is $53.72 and its 200-day simple moving average is $55.75. 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 has a market cap of $10.24 billion, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 0.89 and a beta of 0.30.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Monday, October 27th. The biotechnology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.20). BioMarin Pharmaceutical had a return on equity of 9.53% and a net margin of 16.82%.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 prior year, the business posted $0.91 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. BioMarin Pharmaceutical has set its FY 2025 guidance at 3.500-3.600 EPS. As a group, equities research analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

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.