WealthTrust Asset Management LLC Has $1.21 Million Position in BioMarin Pharmaceutical Inc. $BMRN

WealthTrust Asset Management LLC raised its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 102.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,924 shares of the biotechnology company’s stock after acquiring an additional 11,092 shares during the period. BioMarin Pharmaceutical comprises approximately 0.9% of WealthTrust Asset Management LLC’s holdings, making the stock its 28th largest holding. WealthTrust Asset Management LLC’s holdings in BioMarin Pharmaceutical were worth $1,205,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Dodge & Cox lifted its position in shares of BioMarin Pharmaceutical by 1.4% during the first quarter. Dodge & Cox now owns 14,955,240 shares of the biotechnology company’s stock worth $1,057,186,000 after purchasing an additional 209,005 shares in the last quarter. Geode Capital Management LLC raised its position in BioMarin Pharmaceutical by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 3,474,438 shares of the biotechnology company’s stock worth $190,417,000 after purchasing an additional 43,185 shares during the last quarter. AQR Capital Management LLC lifted its holdings in BioMarin Pharmaceutical by 127.9% during the 1st quarter. AQR Capital Management LLC now owns 2,925,805 shares of the biotechnology company’s stock worth $203,987,000 after buying an additional 1,642,206 shares in the last quarter. Nuveen LLC bought a new position in BioMarin Pharmaceutical in the 1st quarter valued at $184,475,000. Finally, Goldman Sachs Group Inc. increased its stake 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 buying an additional 1,083,512 shares during the period. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Up 0.9%

Shares of NASDAQ BMRN opened at $54.73 on Friday. The firm has a 50 day moving average price of $53.81 and a two-hundred day moving average price of $56.57. The stock has a market cap of $10.51 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 0.68 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 52-week low of $50.76 and a 52-week high of $73.51. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 4.83.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its 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 company had revenue of $776.13 million for the quarter, compared to the consensus estimate of $782.42 million. BioMarin Pharmaceutical had a return on equity of 9.53% and a net margin of 16.82%.The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 earnings per share. BioMarin Pharmaceutical has set its FY 2025 guidance at 3.500-3.600 EPS. As a group, equities analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BMRN shares. Barclays reduced their price target on BioMarin Pharmaceutical from $86.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 28th. Wall Street Zen cut shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Morgan Stanley dropped their price target on BioMarin Pharmaceutical from $104.00 to $98.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 28th. Tudor Pickering set a $88.00 price objective on BioMarin Pharmaceutical in a report on Monday, November 3rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, October 28th. Sixteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.91.

About BioMarin Pharmaceutical

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.