Quadrature Capital Ltd Purchases New Holdings in BioMarin Pharmaceutical Inc. $BMRN

Quadrature Capital Ltd acquired a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 32,392 shares of the biotechnology company’s stock, valued at approximately $1,780,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its holdings in shares of BioMarin Pharmaceutical by 14.4% in the second quarter. Hsbc Holdings PLC now owns 373,117 shares of the biotechnology company’s stock valued at $20,461,000 after purchasing an additional 47,083 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of BioMarin Pharmaceutical by 104.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 27,021 shares of the biotechnology company’s stock valued at $1,485,000 after buying an additional 13,803 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in BioMarin Pharmaceutical by 1.0% during the second quarter. State Board of Administration of Florida Retirement System now owns 194,042 shares of the biotechnology company’s stock valued at $10,666,000 after buying an additional 1,910 shares during the period. Korea Investment CORP raised its position in BioMarin Pharmaceutical by 12.4% during the second quarter. Korea Investment CORP now owns 241,603 shares of the biotechnology company’s stock valued at $13,281,000 after buying an additional 26,700 shares during the period. Finally, Quadrant Capital Group LLC lifted its stake in BioMarin Pharmaceutical by 10.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 12,158 shares of the biotechnology company’s stock worth $668,000 after acquiring an additional 1,148 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $55.79 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 4.83. The firm has a market cap of $10.72 billion, a PE ratio of 20.97, a PEG ratio of 0.68 and a beta of 0.33. The firm’s 50 day moving average price is $53.80 and its 200 day moving average price is $56.09. BioMarin Pharmaceutical Inc. has a twelve month low of $50.76 and a twelve month high of $73.51.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted 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 business had revenue of $776.13 million during 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 business’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 earnings per share. BioMarin Pharmaceutical has set its FY 2025 guidance at 3.500-3.600 EPS. As a group, research analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BMRN has been the topic of several research analyst reports. Morgan Stanley lowered their target price 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. Raymond James Financial started coverage on shares of BioMarin Pharmaceutical in a report on Wednesday, September 3rd. They set an “outperform” rating and a $85.00 price target for the company. HC Wainwright lowered their price objective on shares of BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. JPMorgan Chase & Co. upped their price objective on shares of BioMarin Pharmaceutical from $116.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Finally, Wolfe Research reissued an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Sixteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.91.

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.