Rakuten Investment Management Inc. Acquires New Shares in BioMarin Pharmaceutical Inc. $BMRN

Rakuten Investment Management Inc. purchased a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 23,358 shares of the biotechnology company’s stock, valued at approximately $1,265,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. V Square Quantitative Management LLC bought a new position in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $25,000. Quent Capital LLC bought a new position in shares of BioMarin Pharmaceutical in the third quarter valued at $28,000. Hantz Financial Services Inc. raised its position in shares of BioMarin Pharmaceutical by 480.2% during the second quarter. Hantz Financial Services Inc. now owns 1,056 shares of the biotechnology company’s stock worth $58,000 after purchasing an additional 874 shares during the period. Employees Retirement System of Texas purchased a new stake in BioMarin Pharmaceutical during the second quarter valued at about $58,000. Finally, IFP Advisors Inc boosted its stake in BioMarin Pharmaceutical by 1,382.2% in the 2nd quarter. IFP Advisors Inc now owns 1,749 shares of the biotechnology company’s stock worth $96,000 after purchasing an additional 1,631 shares during the period. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $56.21 on Friday. The company has a market capitalization of $10.80 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 0.61 and a beta of 0.27. BioMarin Pharmaceutical Inc. has a 52 week low of $50.76 and a 52 week high of $73.51. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.10 and a current ratio of 4.83. The company’s 50 day moving average price is $56.20 and its two-hundred day moving average price is $56.01.

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 company had revenue of $776.13 million during the quarter, compared to the consensus estimate of $782.42 million. During the same period in the prior year, the firm posted $0.91 earnings per share. The company’s 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. On average, analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BMRN shares. Morgan Stanley dropped their price target 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 lowered their target price on BioMarin Pharmaceutical from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, October 28th. JPMorgan Chase & Co. boosted their price objective on shares of BioMarin Pharmaceutical from $116.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, October 9th. Weiss Ratings restated a “sell (d)” rating on shares of BioMarin Pharmaceutical in a research report on Monday, December 29th. Finally, Canaccord Genuity Group upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and lifted their target price for the company from $84.00 to $98.00 in a research report on Tuesday, January 20th. Seventeen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $90.04.

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.