Westpac Banking Corp Makes New Investment in BioMarin Pharmaceutical Inc. $BMRN

by · The Cerbat Gem

Westpac Banking Corp purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 13,980 shares of the biotechnology company’s stock, valued at approximately $768,000.

Other institutional investors also recently added to or reduced their stakes in the company. Integrated Quantitative Investments LLC purchased a new stake in BioMarin Pharmaceutical in the 2nd quarter worth about $348,000. Rockefeller Capital Management L.P. raised its stake in shares of BioMarin Pharmaceutical by 5.9% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 323,483 shares of the biotechnology company’s stock valued at $17,782,000 after purchasing an additional 18,081 shares during the period. Alberta Investment Management Corp purchased a new stake in shares of BioMarin Pharmaceutical in the second quarter worth $4,024,000. WealthTrust Asset Management LLC grew its holdings in shares of BioMarin Pharmaceutical by 102.4% during the second quarter. WealthTrust Asset Management LLC now owns 21,924 shares of the biotechnology company’s stock worth $1,205,000 after purchasing an additional 11,092 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in BioMarin Pharmaceutical by 8.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 49,273 shares of the biotechnology company’s stock valued at $2,709,000 after purchasing an additional 3,716 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BMRN. Truist Financial cut their price objective on shares of BioMarin Pharmaceutical from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, October 28th. Tudor Pickering set a $88.00 target price on shares of BioMarin Pharmaceutical in a research note on Monday, November 3rd. Zacks Research lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Morgan Stanley reduced their target price on BioMarin Pharmaceutical from $104.00 to $98.00 and set an “overweight” rating on the stock in a report on Tuesday, October 28th. Finally, HC Wainwright decreased their price objective on BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Sixteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.91.

Read Our Latest Analysis on BioMarin Pharmaceutical

BioMarin Pharmaceutical Trading Down 0.9%

BioMarin Pharmaceutical stock traded down $0.50 during trading hours on Monday, reaching $54.23. 289,759 shares of the company’s stock were exchanged, compared to its average volume of 2,034,212. The firm’s 50 day simple moving average is $53.81 and its 200 day simple moving average is $56.47. BioMarin Pharmaceutical Inc. has a twelve month low of $50.76 and a twelve month high of $73.51. The company has a quick ratio of 3.60, a current ratio of 4.83 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $10.42 billion, a PE ratio of 20.36, a PEG ratio of 0.68 and a beta of 0.33.

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

BioMarin Pharmaceutical Profile

(Free Report)

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.

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