Perpetual Ltd Decreases Position in BioMarin Pharmaceutical Inc. $BMRN

Perpetual Ltd decreased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 65.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,874 shares of the biotechnology company’s stock after selling 9,106 shares during the quarter. Perpetual Ltd’s holdings in BioMarin Pharmaceutical were worth $264,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of BMRN. AQR Capital Management LLC lifted its position 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 buying an additional 2,654,768 shares during the last quarter. Norges Bank bought a new position in BioMarin Pharmaceutical during the second quarter valued at $112,352,000. Viking Global Investors LP raised its stake in shares of BioMarin Pharmaceutical by 13.8% in the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock valued at $675,505,000 after acquiring an additional 1,488,552 shares during the period. Goldman Sachs Group Inc. lifted 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 worth $112,607,000 after acquiring an additional 1,083,512 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter worth about $35,202,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Down 3.1%

Shares of NASDAQ BMRN opened at $59.28 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.10 and a current ratio of 4.83. The firm has a market capitalization of $11.39 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 1.02 and a beta of 0.30. The stock has a 50 day moving average price of $53.81 and a 200 day moving average price of $55.64. BioMarin Pharmaceutical Inc. has a 52-week low of $50.76 and a 52-week high of $73.51.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Monday, October 27th. The biotechnology company reported $0.12 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $782.42 million. During the same quarter in the previous year, the business earned $0.91 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. BioMarin Pharmaceutical has set its FY 2025 guidance at 3.500-3.600 EPS. Sell-side analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Analysts Set New Price Targets

BMRN has been the topic of several analyst reports. HC Wainwright upped 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. Leerink Partners lowered BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $82.00 to $60.00 in a research report on Wednesday, December 3rd. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $66.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, October 28th. Weiss Ratings reissued a “sell (d)” rating on shares of BioMarin Pharmaceutical in a research note on Monday, December 15th. Finally, Raymond James Financial initiated coverage on BioMarin Pharmaceutical in a report on Wednesday, September 3rd. They set an “outperform” rating and a $85.00 price objective for the company. Sixteen investment 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. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $88.83.

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.