Boone Capital Management LLC Has $24.60 Million Position in BioMarin Pharmaceutical Inc. $BMRN

Boone Capital Management LLC lifted its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 36.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 447,449 shares of the biotechnology company’s stock after buying an additional 120,170 shares during the quarter. BioMarin Pharmaceutical comprises about 10.5% of Boone Capital Management LLC’s holdings, making the stock its 3rd largest position. Boone Capital Management LLC owned 0.23% of BioMarin Pharmaceutical worth $24,596,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in BioMarin Pharmaceutical during the second quarter valued at $25,000. Rise Advisors LLC acquired a new position in shares of BioMarin Pharmaceutical in the 1st quarter valued at about $30,000. Brooklyn Investment Group boosted its position in shares of BioMarin Pharmaceutical by 2,250.0% during the 1st quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 540 shares in the last quarter. Hantz Financial Services Inc. grew its stake in BioMarin Pharmaceutical by 480.2% during the second quarter. Hantz Financial Services Inc. now owns 1,056 shares of the biotechnology company’s stock worth $58,000 after purchasing an additional 874 shares during the period. Finally, Employees Retirement System of Texas bought a new stake in BioMarin Pharmaceutical in the second quarter worth approximately $58,000. Institutional investors own 98.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. HC Wainwright cut their price target on BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. Wedbush reiterated an “outperform” rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday, October 28th. Raymond James Financial assumed coverage on shares of BioMarin Pharmaceutical in a research note on Wednesday, September 3rd. They set an “outperform” rating and a $85.00 target price on the stock. Leerink Partnrs downgraded shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 3rd. Finally, Wells Fargo & Company dropped their price objective on shares of BioMarin Pharmaceutical from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, October 28th. 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. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus target price of $88.61.

BioMarin Pharmaceutical Stock Up 0.6%

BioMarin Pharmaceutical stock opened at $53.31 on Friday. The firm has a market capitalization of $10.24 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 0.88 and a beta of 0.30. The firm’s fifty day moving average price is $53.72 and its two-hundred day moving average price is $55.77. BioMarin Pharmaceutical Inc. has a 1-year low of $50.76 and a 1-year high of $73.51. The company has a current ratio of 4.83, a quick ratio of 3.10 and a debt-to-equity ratio of 0.10.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Monday, October 27th. The biotechnology company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.20). BioMarin Pharmaceutical had a return on equity of 9.53% and a net margin of 16.82%.The business had revenue of $776.13 million during the quarter, compared to analyst estimates of $782.42 million. During the same quarter in the prior year, the company earned $0.91 EPS. The company’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, equities research analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

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.