Rice Hall James & Associates LLC Boosts Stock Position in BioMarin Pharmaceutical Inc. $BMRN

Rice Hall James & Associates LLC grew its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1,693.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,425 shares of the biotechnology company’s stock after purchasing an additional 97,657 shares during the quarter. Rice Hall James & Associates LLC owned approximately 0.05% of BioMarin Pharmaceutical worth $5,601,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Rise Advisors LLC purchased a new position in shares of BioMarin Pharmaceutical in the 1st quarter worth about $30,000. V Square Quantitative Management LLC purchased a new position in BioMarin Pharmaceutical in the second quarter valued at about $25,000. Hantz Financial Services Inc. grew its position in shares of BioMarin Pharmaceutical by 480.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,056 shares of the biotechnology company’s stock valued at $58,000 after acquiring an additional 874 shares during the period. Employees Retirement System of Texas bought a new position in shares of BioMarin Pharmaceutical during the 2nd quarter valued at approximately $58,000. Finally, Banque Transatlantique SA bought a new stake in shares of BioMarin Pharmaceutical in the 1st quarter worth approximately $71,000. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $59.95 on Friday. The stock has a market cap of $11.52 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 1.00 and a beta of 0.30. The company has a quick ratio of 3.10, a current ratio of 4.83 and a debt-to-equity ratio of 0.10. The business has a 50-day simple moving average of $54.39 and a 200 day simple moving average of $55.75. BioMarin Pharmaceutical Inc. has a 52 week low of $50.76 and a 52 week high of $73.51.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Monday, October 27th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.20). The business had revenue of $776.13 million for the quarter, compared to the consensus estimate of $782.42 million. BioMarin Pharmaceutical had a net margin of 16.82% and a return on equity of 9.53%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS. 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 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on BMRN. Truist Financial lifted their price objective on BioMarin Pharmaceutical from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday. Tudor Pickering set a $88.00 price objective on shares of BioMarin Pharmaceutical in a research note on Monday, November 3rd. HC Wainwright increased their target price on BioMarin Pharmaceutical from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, December 22nd. Morgan Stanley reduced their price target on BioMarin Pharmaceutical from $104.00 to $98.00 and set an “overweight” rating for the company in a research report on Tuesday, October 28th. Finally, Leerink Partnrs lowered BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 3rd. Sixteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.70.

About BioMarin Pharmaceutical

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.