KBC Group NV Raises Stock Position in BioMarin Pharmaceutical Inc. $BMRN

KBC Group NV increased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.9% during the 2nd quarter, Holdings Channel reports. The fund owned 126,417 shares of the biotechnology company’s stock after purchasing an additional 1,117 shares during the quarter. KBC Group NV’s holdings in BioMarin Pharmaceutical were worth $6,949,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Nuveen LLC purchased a new stake in BioMarin Pharmaceutical during the first quarter worth approximately $184,475,000. AQR Capital Management LLC boosted its stake in BioMarin Pharmaceutical by 127.9% during the 1st quarter. AQR Capital Management LLC now owns 2,925,805 shares of the biotechnology company’s stock worth $203,987,000 after purchasing an additional 1,642,206 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of BioMarin Pharmaceutical by 212.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company’s stock worth $112,607,000 after buying an additional 1,083,512 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in shares of BioMarin Pharmaceutical in the first quarter valued at approximately $59,125,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of BioMarin Pharmaceutical by 559.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 641,718 shares of the biotechnology company’s stock worth $35,275,000 after purchasing an additional 544,457 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Trading Up 0.9%

Shares of BMRN opened at $54.73 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 stock has a 50-day moving average price of $53.81 and a 200 day moving average price of $56.57. The company has a market capitalization of $10.51 billion, a P/E ratio of 20.58, a P/E/G ratio of 0.68 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a one year low of $50.76 and a one year high of $73.51.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its 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). BioMarin Pharmaceutical had a net margin of 16.82% and a return on equity of 9.53%. The company had revenue of $776.13 million during the quarter, compared to analyst estimates of $782.42 million. During the same quarter last year, the company posted $0.91 EPS. The business’s revenue for the quarter 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. Sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BMRN shares. Truist Financial decreased their price target on BioMarin Pharmaceutical from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, October 28th. Guggenheim boosted their price target on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Wells Fargo & Company lowered their target price 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. Wall Street Zen lowered shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, HC Wainwright dropped their price objective on BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Sixteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average price target of $89.91.

About BioMarin Pharmaceutical

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.