BioMarin Pharmaceutical Inc. $BMRN Shares Acquired by Covea Finance

Covea Finance raised its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 7.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 145,800 shares of the biotechnology company’s stock after buying an additional 10,500 shares during the quarter. Covea Finance owned about 0.08% of BioMarin Pharmaceutical worth $7,897,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Freedom Investment Management Inc. raised its stake in BioMarin Pharmaceutical by 13.2% during the first quarter. Freedom Investment Management Inc. now owns 5,684 shares of the biotechnology company’s stock worth $402,000 after acquiring an additional 662 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of BioMarin Pharmaceutical during the first quarter worth about $4,020,000. FORA Capital LLC increased its holdings in shares of BioMarin Pharmaceutical by 55.8% in the 1st quarter. FORA Capital LLC now owns 5,025 shares of the biotechnology company’s stock worth $355,000 after acquiring an additional 1,800 shares during the period. Ieq Capital LLC lifted its position in BioMarin Pharmaceutical by 173.0% in the 1st quarter. Ieq Capital LLC now owns 164,576 shares of the biotechnology company’s stock valued at $11,634,000 after purchasing an additional 104,289 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its stake in BioMarin Pharmaceutical by 280.8% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 30,067 shares of the biotechnology company’s stock valued at $2,125,000 after purchasing an additional 22,172 shares during the period. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Down 2.0%

BMRN stock opened at $59.94 on Friday. The firm has a market cap of $11.52 billion, a PE ratio of 22.53, a P/E/G ratio of 1.00 and a beta of 0.30. BioMarin Pharmaceutical Inc. has a 12 month low of $50.76 and a 12 month high of $73.51. 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 firm has a 50 day simple moving average of $54.26 and a 200 day simple moving average of $55.73.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Monday, October 27th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $782.42 million. During the same quarter last year, the firm posted $0.91 EPS. The company’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 forecast that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on BMRN. Stifel Nicolaus restated a “hold” rating and issued a $61.00 target price (down from $73.00) on shares of BioMarin Pharmaceutical in a research report on Thursday, November 6th. Truist Financial raised their price target on BioMarin Pharmaceutical from $80.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday. Morgan Stanley cut their price objective on shares of BioMarin Pharmaceutical from $104.00 to $98.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 28th. Wells Fargo & Company decreased 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 report on Tuesday, October 28th. Finally, Barclays lowered their target price on shares of BioMarin Pharmaceutical from $86.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 28th. Sixteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.70.

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.