Y Intercept Hong Kong Ltd Cuts Position in BioMarin Pharmaceutical Inc. $BMRN

Y Intercept Hong Kong Ltd trimmed its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 36.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,509 shares of the biotechnology company’s stock after selling 51,159 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in BioMarin Pharmaceutical were worth $4,902,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. NewEdge Advisors LLC increased its position in shares of BioMarin Pharmaceutical by 11.5% during the 1st quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company’s stock valued at $266,000 after purchasing an additional 388 shares during the last quarter. Empowered Funds LLC grew its position in BioMarin Pharmaceutical by 207.4% during the first quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock valued at $850,000 after buying an additional 8,112 shares during the period. Focus Partners Wealth increased its holdings in BioMarin Pharmaceutical by 70.2% during the first quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock worth $835,000 after buying an additional 4,876 shares during the last quarter. Sivia Capital Partners LLC raised its position in BioMarin Pharmaceutical by 33.0% in the second quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company’s stock worth $244,000 after acquiring an additional 1,102 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in BioMarin Pharmaceutical by 1.7% in the second quarter. Public Employees Retirement System of Ohio now owns 59,895 shares of the biotechnology company’s stock worth $3,292,000 after acquiring an additional 988 shares during the period. 98.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BMRN shares. Barclays decreased their price target on shares of BioMarin Pharmaceutical from $86.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, October 28th. HC Wainwright raised their target price on BioMarin Pharmaceutical from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, December 22nd. Royal Bank Of Canada restated a “sector perform” rating and issued a $66.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Wedbush reiterated an “outperform” rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Finally, Wells Fargo & Company dropped their price objective on shares of BioMarin Pharmaceutical from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, October 28th. Seventeen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $90.04.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $56.21 on Friday. BioMarin Pharmaceutical Inc. has a 52-week low of $50.76 and a 52-week high of $73.51. The stock’s 50-day simple moving average is $56.20 and its 200 day simple moving average is $56.01. 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 stock has a market capitalization of $10.80 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 0.61 and a beta of 0.27.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Monday, October 27th. The biotechnology company reported $0.12 earnings per share 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 for the quarter, compared to the consensus estimate of $782.42 million. During the same quarter in the prior year, the company earned $0.91 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. BioMarin Pharmaceutical has set its FY 2025 guidance at 3.500-3.600 EPS. Research analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

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.