Rice Hall James & Associates LLC Increases Position in BioMarin Pharmaceutical Inc. $BMRN

Rice Hall James & Associates LLC raised its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1,693.1% during the third quarter, HoldingsChannel reports. The firm owned 103,425 shares of the biotechnology company’s stock after purchasing an additional 97,657 shares during the period. Rice Hall James & Associates LLC’s holdings in BioMarin Pharmaceutical were worth $5,601,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BMRN. Jump Financial LLC lifted its holdings in shares of BioMarin Pharmaceutical by 530.3% in the 2nd quarter. Jump Financial LLC now owns 291,217 shares of the biotechnology company’s stock worth $16,008,000 after acquiring an additional 245,017 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in BioMarin Pharmaceutical by 212.7% in the first 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 last quarter. AQR Capital Management LLC lifted its stake in BioMarin Pharmaceutical by 90.7% in the second quarter. AQR Capital Management LLC now owns 5,580,573 shares of the biotechnology company’s stock worth $306,429,000 after purchasing an additional 2,654,768 shares during the last quarter. Covea Finance boosted its position in BioMarin Pharmaceutical by 27.3% during the second quarter. Covea Finance now owns 135,300 shares of the biotechnology company’s stock valued at $7,437,000 after buying an additional 29,000 shares during the period. Finally, 1832 Asset Management L.P. bought a new position in shares of BioMarin Pharmaceutical during the second quarter valued at about $1,431,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $59.95 on Friday. The company has a 50-day simple moving average of $54.39 and a two-hundred day simple moving average of $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 firm has a market capitalization of $11.52 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 1.00 and a beta of 0.30. BioMarin Pharmaceutical Inc. has a one year low of $50.76 and a one year high of $73.51.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released 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 firm had revenue of $776.13 million during the quarter, compared to analysts’ expectations of $782.42 million. BioMarin Pharmaceutical had a net margin of 16.82% and a return on equity of 9.53%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 EPS. BioMarin Pharmaceutical has set its FY 2025 guidance at 3.500-3.600 EPS. On average, analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wedbush reissued an “outperform” rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Wells Fargo & Company decreased their price target 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. Wall Street Zen downgraded BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Wolfe Research restated an “outperform” rating on shares of BioMarin Pharmaceutical in a report on Tuesday, October 28th. Finally, Morgan Stanley lowered their price target on shares of BioMarin Pharmaceutical from $104.00 to $98.00 and set an “overweight” rating for the company in a report on Tuesday, October 28th. Sixteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and an average price target of $89.70.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.