Sumitomo Mitsui Trust Group Inc. Has $24.48 Million Stock Holdings in BioMarin Pharmaceutical Inc. $BMRN

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 8.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 451,980 shares of the biotechnology company’s stock after selling 40,124 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in BioMarin Pharmaceutical were worth $24,479,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new position in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $25,000. Hantz Financial Services Inc. lifted its position in BioMarin Pharmaceutical by 480.2% in 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 in the last quarter. Employees Retirement System of Texas acquired a new position in BioMarin Pharmaceutical in the 2nd quarter worth $58,000. IFP Advisors Inc boosted its stake in BioMarin Pharmaceutical by 1,382.2% in the 2nd quarter. IFP Advisors Inc now owns 1,749 shares of the biotechnology company’s stock worth $96,000 after purchasing an additional 1,631 shares during the period. Finally, True Wealth Design LLC increased its holdings in BioMarin Pharmaceutical by 427.9% during the 3rd quarter. True Wealth Design LLC now owns 1,985 shares of the biotechnology company’s stock worth $108,000 after purchasing an additional 1,609 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BMRN. Sanford C. Bernstein cut their price target 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 report on Saturday, November 1st. 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. JPMorgan Chase & Co. raised their price target on shares of BioMarin Pharmaceutical from $116.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Finally, Barclays cut their price objective on shares of BioMarin Pharmaceutical from $86.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 28th. Sixteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.70.

BioMarin Pharmaceutical Trading Down 0.9%

Shares of BioMarin Pharmaceutical stock opened at $54.59 on Friday. The stock has a market cap of $10.49 billion, a P/E ratio of 20.52, a P/E/G ratio of 0.61 and a beta of 0.27. The company has a quick ratio of 3.10, a current ratio of 4.83 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical Inc. has a 12-month low of $50.76 and a 12-month high of $73.51. The business’s 50 day moving average is $56.02 and its 200-day moving average is $56.05.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Monday, October 27th. The biotechnology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.20). BioMarin Pharmaceutical had a net margin of 16.82% and a return on equity of 9.53%. The firm had revenue of $776.13 million during the quarter, compared to the consensus estimate of $782.42 million. During the same period in the prior year, the business posted $0.91 earnings per share. BioMarin Pharmaceutical’s quarterly revenue was up 4.1% compared to the same quarter last year. BioMarin Pharmaceutical has set its FY 2025 guidance at 3.500-3.600 EPS. Equities research analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

BioMarin Pharmaceutical Profile

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.