Marex Group plc Makes New Investment in BioMarin Pharmaceutical Inc. $BMRN

Marex Group plc acquired a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 13,728 shares of the biotechnology company’s stock, valued at approximately $755,000.

A number of other hedge funds have also modified their holdings of BMRN. AQR Capital Management LLC raised its position in 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 valued at $306,429,000 after purchasing an additional 2,654,768 shares during the last quarter. Norges Bank acquired a new position in BioMarin Pharmaceutical in the second quarter valued at $112,352,000. Viking Global Investors LP increased its stake 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 valued at $675,505,000 after purchasing an additional 1,488,552 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of 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 valued at $112,607,000 after buying an additional 1,083,512 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of BioMarin Pharmaceutical during the first quarter worth about $59,125,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Trading Up 0.6%

NASDAQ:BMRN opened at $53.31 on Monday. BioMarin Pharmaceutical Inc. has a 1 year low of $50.76 and a 1 year high of $73.51. 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 stock has a fifty day moving average price of $53.72 and a two-hundred day moving average price of $55.74. The stock has a market capitalization of $10.24 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 0.89 and a beta of 0.30.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BMRN shares. JPMorgan Chase & Co. boosted their price target on BioMarin Pharmaceutical from $116.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. Sanford C. Bernstein dropped their target price on BioMarin Pharmaceutical from $95.00 to $88.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Wells Fargo & Company decreased their price target on BioMarin Pharmaceutical from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, October 28th. Tudor Pickering set a $88.00 price objective on shares of BioMarin Pharmaceutical in a research note on Monday, November 3rd. Finally, Wolfe Research restated an “outperform” rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, October 28th. Sixteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and an average price target of $88.61.

BioMarin Pharmaceutical Company 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.