Pacer Advisors Inc. Increases Stock Position in BioMarin Pharmaceutical Inc. $BMRN

Pacer Advisors Inc. lifted its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 10,580.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 610,152 shares of the biotechnology company’s stock after purchasing an additional 604,439 shares during the period. Pacer Advisors Inc.’s holdings in BioMarin Pharmaceutical were worth $33,046,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMRN. Caisse DE Depot ET Placement DU Quebec acquired a new stake in BioMarin Pharmaceutical during the first quarter worth about $4,020,000. FORA Capital LLC lifted its stake in shares of BioMarin Pharmaceutical by 55.8% in the 1st quarter. FORA Capital LLC now owns 5,025 shares of the biotechnology company’s stock valued at $355,000 after purchasing an additional 1,800 shares in the last quarter. OMERS ADMINISTRATION Corp grew its holdings in shares of BioMarin Pharmaceutical by 280.8% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 30,067 shares of the biotechnology company’s stock worth $2,125,000 after purchasing an additional 22,172 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in BioMarin Pharmaceutical during the 1st quarter worth approximately $699,000. Finally, State of Wyoming raised its holdings in BioMarin Pharmaceutical by 23.3% in the first quarter. State of Wyoming now owns 5,801 shares of the biotechnology company’s stock valued at $410,000 after buying an additional 1,098 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BMRN. Morgan Stanley decreased their price objective on shares of BioMarin Pharmaceutical from $104.00 to $98.00 and set an “overweight” rating for the company in a research note on Tuesday, October 28th. Royal Bank Of Canada restated a “sector perform” rating and set a $66.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday, October 28th. HC Wainwright increased their price target on BioMarin Pharmaceutical from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, December 22nd. Wolfe Research reissued an “outperform” rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, October 28th. Finally, Truist Financial upped their target price on BioMarin Pharmaceutical from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday. Sixteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $89.70.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $59.95 on Friday. BioMarin Pharmaceutical Inc. has a 12-month low of $50.76 and a 12-month high of $73.51. 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 company has a market capitalization of $11.52 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 1.00 and a beta of 0.30. The firm’s fifty day moving average price is $54.39 and its 200 day moving average price is $55.75.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results 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 business had revenue of $776.13 million for the quarter, compared to analyst estimates of $782.42 million. During the same quarter in the prior year, the business earned $0.91 earnings per share. The firm’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, research analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

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.