Prudential Financial Inc. Purchases 165,013 Shares of BioMarin Pharmaceutical Inc. $BMRN

Prudential Financial Inc. lifted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 115.1% in the second quarter, Holdings Channel.com reports. The firm owned 308,355 shares of the biotechnology company’s stock after purchasing an additional 165,013 shares during the quarter. Prudential Financial Inc.’s holdings in BioMarin Pharmaceutical were worth $16,950,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Allianz Asset Management GmbH boosted its stake in BioMarin Pharmaceutical by 28.8% in the first quarter. Allianz Asset Management GmbH now owns 36,867 shares of the biotechnology company’s stock worth $2,606,000 after buying an additional 8,252 shares in the last quarter. AE Wealth Management LLC bought a new stake in shares of BioMarin Pharmaceutical in the 1st quarter worth approximately $215,000. Avantax Advisory Services Inc. boosted its stake in shares of BioMarin Pharmaceutical by 8.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 6,447 shares of the biotechnology company’s stock valued at $456,000 after purchasing an additional 497 shares in the last quarter. Assetmark Inc. boosted its stake in shares of BioMarin Pharmaceutical by 41.5% in the 1st quarter. Assetmark Inc. now owns 7,007 shares of the biotechnology company’s stock valued at $495,000 after purchasing an additional 2,054 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of BioMarin Pharmaceutical by 3.4% during the 1st quarter. Federated Hermes Inc. now owns 19,647 shares of the biotechnology company’s stock valued at $1,389,000 after purchasing an additional 648 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BMRN has been the subject of several recent research reports. Wells Fargo & Company lowered their price target on shares of BioMarin Pharmaceutical from $90.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, October 28th. Sanford C. Bernstein decreased their price objective on BioMarin Pharmaceutical from $95.00 to $88.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Wall Street Zen lowered BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Raymond James Financial assumed coverage on BioMarin Pharmaceutical in a report on Wednesday, September 3rd. They set an “outperform” rating and a $85.00 target price for the company. Finally, Weiss Ratings restated a “sell (d)” rating on shares of BioMarin Pharmaceutical in a research report on Monday. Sixteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $89.91.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $55.52 on Thursday. The company has a current ratio of 4.83, a quick ratio of 3.60 and a debt-to-equity ratio of 0.10. The firm has a market cap of $10.67 billion, a P/E ratio of 20.87, a P/E/G ratio of 0.68 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 1-year low of $50.76 and a 1-year high of $73.51. The firm has a 50-day moving average of $53.77 and a 200-day moving average of $56.16.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Monday, October 27th. The biotechnology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $782.42 million. During the same period in the previous year, the company earned $0.91 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. 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 EPS for the current year.

BioMarin Pharmaceutical 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.