First Trust Advisors LP Grows Stock Holdings in BioMarin Pharmaceutical Inc. $BMRN

First Trust Advisors LP lifted its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 10.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 738,482 shares of the biotechnology company’s stock after acquiring an additional 69,001 shares during the quarter. First Trust Advisors LP’s holdings in BioMarin Pharmaceutical were worth $40,594,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in BioMarin Pharmaceutical in the first quarter valued at $30,000. V Square Quantitative Management LLC acquired a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at about $25,000. Brooklyn Investment Group boosted its stake in shares of BioMarin Pharmaceutical by 2,250.0% in the first quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company’s stock worth $40,000 after buying an additional 540 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in shares of BioMarin Pharmaceutical by 480.2% in the second quarter. Hantz Financial Services Inc. now owns 1,056 shares of the biotechnology company’s stock worth $58,000 after buying an additional 874 shares during the last quarter. Finally, Employees Retirement System of Texas acquired a new stake in BioMarin Pharmaceutical during the second quarter worth about $58,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $53.74 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.83 and a quick ratio of 3.10. The stock’s 50 day simple moving average is $53.84 and its 200-day simple moving average is $55.83. The company has a market cap of $10.32 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 0.89 and a beta of 0.30. BioMarin Pharmaceutical Inc. has a 1-year low of $50.76 and a 1-year high of $73.51.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Monday, October 27th. The biotechnology company reported $0.12 EPS 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 analyst estimates of $782.42 million. During the same period in the prior year, the company posted $0.91 earnings per share. The firm’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. As a group, equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BMRN. Zacks Research downgraded BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Wedbush reaffirmed an “outperform” rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday, October 28th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $61.00 price objective (down previously from $73.00) on shares of BioMarin Pharmaceutical in a report on Thursday, November 6th. Wall Street Zen lowered BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Raymond James Financial assumed coverage on BioMarin Pharmaceutical in a research report on Wednesday, September 3rd. They issued an “outperform” rating and a $85.00 price objective for the company. Sixteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.61.

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.