Swedbank AB Buys 35,000 Shares of BioMarin Pharmaceutical Inc. $BMRN

Swedbank AB increased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 8.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 466,943 shares of the biotechnology company’s stock after purchasing an additional 35,000 shares during the quarter. Swedbank AB owned 0.24% of BioMarin Pharmaceutical worth $25,290,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BMRN. AQR Capital Management LLC lifted its holdings in shares of BioMarin Pharmaceutical by 90.7% during the 2nd quarter. AQR Capital Management LLC now owns 5,580,573 shares of the biotechnology company’s stock worth $306,429,000 after acquiring an additional 2,654,768 shares during the period. Norges Bank acquired a new position in BioMarin Pharmaceutical during the second quarter valued at approximately $112,352,000. Viking Global Investors LP lifted its stake in BioMarin Pharmaceutical by 13.8% during the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock worth $675,505,000 after purchasing an additional 1,488,552 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of 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 valued at $112,607,000 after purchasing an additional 1,083,512 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $35,202,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on BMRN shares. Leerink Partnrs downgraded BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 3rd. Leerink Partners cut shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $82.00 to $60.00 in a report on Wednesday, December 3rd. HC Wainwright lifted their price target on shares of BioMarin Pharmaceutical from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Monday. Wells Fargo & Company lowered their price objective on shares of BioMarin Pharmaceutical from $90.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, October 28th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $61.00 target price (down previously from $73.00) on shares of BioMarin Pharmaceutical in a research report on Thursday, November 6th. Sixteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.70.

BioMarin Pharmaceutical Stock Down 2.0%

Shares of NASDAQ BMRN opened at $59.94 on Friday. The company has a 50 day simple moving average of $54.26 and a 200 day simple moving average of $55.73. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.83 and a quick ratio of 3.10. BioMarin Pharmaceutical Inc. has a 1 year low of $50.76 and a 1 year high of $73.51. The firm has a market cap of $11.52 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 1.00 and a beta of 0.30.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly 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). The business 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%. BioMarin Pharmaceutical’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 EPS. BioMarin Pharmaceutical has set its FY 2025 guidance at 3.500-3.600 EPS. On average, research analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

BioMarin Pharmaceutical Company 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.