Geode Capital Management LLC Purchases 43,185 Shares of BioMarin Pharmaceutical Inc. $BMRN

Geode Capital Management LLC grew its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,474,438 shares of the biotechnology company’s stock after acquiring an additional 43,185 shares during the period. Geode Capital Management LLC’s holdings in BioMarin Pharmaceutical were worth $190,417,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BMRN. Nuveen LLC purchased a new stake in BioMarin Pharmaceutical in the first quarter worth approximately $184,475,000. AQR Capital Management LLC boosted its stake in shares of BioMarin Pharmaceutical by 127.9% in the 1st quarter. AQR Capital Management LLC now owns 2,925,805 shares of the biotechnology company’s stock valued at $203,987,000 after purchasing an additional 1,642,206 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of BioMarin Pharmaceutical by 212.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company’s stock valued at $112,607,000 after purchasing an additional 1,083,512 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in BioMarin Pharmaceutical in the 1st quarter worth $59,125,000. Finally, Robeco Institutional Asset Management B.V. raised its position in BioMarin Pharmaceutical by 559.8% in the 2nd 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 Stock Performance

NASDAQ:BMRN opened at $54.46 on Tuesday. The company has a quick ratio of 3.60, a current ratio of 4.83 and a debt-to-equity ratio of 0.10. The firm’s fifty day simple moving average is $53.78 and its 200 day simple moving average is $56.41. The stock has a market cap of $10.46 billion, a P/E ratio of 20.47, a price-to-earnings-growth ratio of 0.68 and a beta of 0.33. 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 company had revenue of $776.13 million during the quarter, compared to analysts’ expectations of $782.42 million. BioMarin Pharmaceutical had a return on equity of 9.53% and a net margin of 16.82%.The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 earnings per share. BioMarin Pharmaceutical has set its FY 2025 guidance at 3.500-3.600 EPS. As a group, research analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Zacks Research lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 8th. HC Wainwright reduced their price target on BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Wedbush reaffirmed an “outperform” rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Finally, Wells Fargo & Company dropped their price objective on BioMarin Pharmaceutical from $90.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, October 28th. Sixteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.