BioMarin Pharmaceutical (NASDAQ:BMRN) Cut to “Hold” at Leerink Partnrs

Leerink Partnrs lowered shares of BioMarin Pharmaceutical (NASDAQ:BMRN) from a strong-buy rating to a hold rating in a research report released on Wednesday morning,Zacks.com reports.

BMRN has been the topic of a number of other reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BioMarin Pharmaceutical in a research report on Monday. Barclays cut their price target on BioMarin Pharmaceutical from $86.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 28th. Wedbush reiterated an “outperform” rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Wolfe Research reiterated an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Finally, JPMorgan Chase & Co. raised their price target on BioMarin Pharmaceutical from $116.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, October 9th. 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.61.

BioMarin Pharmaceutical Stock Down 0.8%

Shares of NASDAQ:BMRN opened at $53.40 on Wednesday. BioMarin Pharmaceutical has a fifty-two week low of $50.76 and a fifty-two week high of $73.51. The firm’s 50 day moving average price is $53.86 and its 200 day moving average price is $55.94. 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 stock has a market cap of $10.26 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 0.90 and a beta of 0.30.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced 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). 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 for the quarter, compared to analysts’ expectations of $782.42 million. During the same period last year, the firm earned $0.91 earnings per share. The firm’s quarterly 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. As a group, equities research analysts predict that BioMarin Pharmaceutical will post 3.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of large investors have recently made changes to their positions in the stock. Rise Advisors LLC purchased a new stake in BioMarin Pharmaceutical during the first quarter worth about $30,000. V Square Quantitative Management LLC purchased a new stake in BioMarin Pharmaceutical during the second quarter worth $25,000. Quent Capital LLC acquired a new stake in BioMarin Pharmaceutical in the third quarter valued at $28,000. Brooklyn Investment Group grew its stake in BioMarin Pharmaceutical by 2,250.0% in the 1st quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 540 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in BioMarin Pharmaceutical during the 3rd quarter valued at about $40,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

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.