Sumitomo Mitsui Trust Group Inc. Has $24.48 Million Stock Position in BioMarin Pharmaceutical Inc. $BMRN

Sumitomo Mitsui Trust Group Inc. lessened its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 8.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 451,980 shares of the biotechnology company’s stock after selling 40,124 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of BioMarin Pharmaceutical worth $24,479,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. AQR Capital Management LLC grew its stake in shares of BioMarin Pharmaceutical by 90.7% during the second quarter. AQR Capital Management LLC now owns 5,580,573 shares of the biotechnology company’s stock valued at $306,429,000 after purchasing an additional 2,654,768 shares during the last quarter. Norges Bank acquired a new position in BioMarin Pharmaceutical during the 2nd quarter worth $112,352,000. Viking Global Investors LP boosted its position in BioMarin Pharmaceutical by 13.8% in the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock valued at $675,505,000 after buying an additional 1,488,552 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $35,202,000. Finally, Pacer Advisors Inc. raised its position in shares of BioMarin Pharmaceutical by 10,580.1% during the third quarter. Pacer Advisors Inc. now owns 610,152 shares of the biotechnology company’s stock worth $33,046,000 after acquiring an additional 604,439 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wedbush reiterated an “outperform” rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, October 28th. Truist Financial raised their target price on shares of BioMarin Pharmaceutical from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Barclays lowered 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 report on Tuesday, October 28th. Tudor Pickering set a $88.00 price objective on shares of BioMarin Pharmaceutical in a research note on Monday, November 3rd. Finally, Wolfe Research reiterated an “outperform” rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, October 28th. Sixteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price of $89.70.

BioMarin Pharmaceutical Stock Down 0.9%

Shares of NASDAQ:BMRN opened at $54.59 on Friday. The company has a 50 day moving average price of $56.02 and a two-hundred day moving average price of $56.05. 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 has a market capitalization of $10.49 billion, a PE ratio of 20.52, a PEG 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.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Monday, October 27th. The biotechnology company reported $0.12 earnings per share (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 firm had revenue of $776.13 million during the quarter, compared to analyst estimates of $782.42 million. During the same period last year, the firm earned $0.91 EPS. BioMarin Pharmaceutical’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. Analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current 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.