Y Intercept Hong Kong Ltd Sells 51,159 Shares of BioMarin Pharmaceutical Inc. $BMRN

Y Intercept Hong Kong Ltd lowered its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 36.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 90,509 shares of the biotechnology company’s stock after selling 51,159 shares during the period. Y Intercept Hong Kong Ltd’s holdings in BioMarin Pharmaceutical were worth $4,902,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in 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 stake in BioMarin Pharmaceutical during the second quarter worth approximately $112,352,000. Viking Global Investors LP increased its holdings in 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 worth $675,505,000 after purchasing an additional 1,488,552 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in BioMarin Pharmaceutical in the second quarter valued at approximately $35,202,000. Finally, Pacer Advisors Inc. grew its position in shares of BioMarin Pharmaceutical by 10,580.1% during the 3rd quarter. Pacer Advisors Inc. now owns 610,152 shares of the biotechnology company’s stock worth $33,046,000 after buying an additional 604,439 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Down 1.7%

Shares of NASDAQ:BMRN opened at $56.21 on Friday. The stock has a market cap of $10.80 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 0.61 and a beta of 0.27. The business’s 50 day moving average is $56.20 and its 200 day moving average is $56.01. BioMarin Pharmaceutical Inc. has a 12-month low of $50.76 and a 12-month high of $73.51. The company has a quick ratio of 3.10, a current ratio of 4.83 and a debt-to-equity ratio of 0.10.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Monday, October 27th. The biotechnology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.20). BioMarin Pharmaceutical had a net margin of 16.82% and a return on equity of 9.53%. The company had revenue of $776.13 million for the quarter, compared to the consensus estimate of $782.42 million. During the same quarter last year, the business posted $0.91 earnings per share. BioMarin Pharmaceutical’s revenue was up 4.1% on a year-over-year basis. BioMarin Pharmaceutical has set its FY 2025 guidance at 3.500-3.600 EPS. On average, sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BMRN has been the topic of several research analyst reports. Sanford C. Bernstein cut their target price on shares of BioMarin Pharmaceutical from $95.00 to $88.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. JPMorgan Chase & Co. increased their price objective on shares of BioMarin Pharmaceutical from $116.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, October 9th. Wolfe Research reaffirmed an “outperform” rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, October 28th. Truist Financial raised their price objective on BioMarin Pharmaceutical from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Finally, Wells Fargo & Company lowered their target price on BioMarin Pharmaceutical from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 28th. Seventeen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus target price of $90.04.

About BioMarin Pharmaceutical

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.