BioMarin Pharmaceutical (NASDAQ:BMRN) Shares Gap Up – Here’s Why

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) gapped up before the market opened on Friday . The stock had previously closed at $51.95, but opened at $54.80. BioMarin Pharmaceutical shares last traded at $60.7930, with a volume of 2,560,749 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts recently commented on BMRN shares. Wall Street Zen lowered BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Wolfe Research restated an “outperform” rating on shares of BioMarin Pharmaceutical in a report on Tuesday, October 28th. Barclays cut their price objective on BioMarin Pharmaceutical from $86.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 28th. Leerink Partners lowered BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $82.00 to $60.00 in a research report on Wednesday, December 3rd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of BioMarin Pharmaceutical in a report on Monday. Sixteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $88.61.

BioMarin Pharmaceutical Price Performance

The company’s fifty day moving average is $53.50 and its two-hundred day moving average is $55.59. 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 firm has a market cap of $11.94 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 0.86 and a beta of 0.30.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly 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 during 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 was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 EPS. 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 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in BioMarin Pharmaceutical in the second quarter worth about $25,000. Quent Capital LLC bought a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at approximately $28,000. Rise Advisors LLC acquired a new position in shares of BioMarin Pharmaceutical in the 1st quarter worth approximately $30,000. Brooklyn Investment Group lifted its position in shares of BioMarin Pharmaceutical by 2,250.0% during the 1st 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 period. Finally, Smartleaf Asset Management LLC boosted its stake in BioMarin Pharmaceutical by 92.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 360 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

About BioMarin Pharmaceutical

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.