Candriam S.C.A. Reduces Stock Position in BioMarin Pharmaceutical Inc. $BMRN

Candriam S.C.A. lessened its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 9.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 549,655 shares of the biotechnology company’s stock after selling 58,207 shares during the period. Candriam S.C.A.’s holdings in BioMarin Pharmaceutical were worth $30,216,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Dodge & Cox grew its stake in shares of BioMarin Pharmaceutical by 1.4% in the first quarter. Dodge & Cox now owns 14,955,240 shares of the biotechnology company’s stock worth $1,057,186,000 after purchasing an additional 209,005 shares during the last quarter. Geode Capital Management LLC lifted its holdings in BioMarin Pharmaceutical by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 3,474,438 shares of the biotechnology company’s stock worth $190,417,000 after buying an additional 43,185 shares during the period. AQR Capital Management LLC grew its position 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 worth $203,987,000 after buying an additional 1,642,206 shares during the last quarter. Nuveen LLC purchased a new position in shares of BioMarin Pharmaceutical during the first quarter valued at approximately $184,475,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of BioMarin Pharmaceutical by 212.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company’s stock valued at $112,607,000 after acquiring an additional 1,083,512 shares in the last quarter. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $54.22 on Friday. BioMarin Pharmaceutical Inc. has a fifty-two week low of $50.76 and a fifty-two week high of $73.51. The firm’s 50-day simple moving average is $53.87 and its two-hundred day simple moving average is $56.63. The stock has a market cap of $10.42 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 0.68 and a beta of 0.33. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 4.83.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Monday, October 27th. The biotechnology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.20). The company had revenue of $776.13 million during the quarter, compared to the consensus estimate of $782.42 million. BioMarin Pharmaceutical had a return on equity of 9.53% and a net margin of 16.82%.The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. BioMarin Pharmaceutical has set its FY 2025 guidance at 3.500-3.600 EPS. Analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Guggenheim lifted their price target on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 8th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $66.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, October 28th. Wedbush reissued 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 cut their price objective on BioMarin Pharmaceutical from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 28th. Sixteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.91.

BioMarin Pharmaceutical Company 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.