1,236,446 Shares in BioMarin Pharmaceutical Inc. $BMRN Purchased by Caisse de depot et placement du Quebec

Key Points

• Caisse de dépôt et placement du Québec purchased 1.24 million BioMarin shares worth approximately $70.7 million, giving it a 0.64% stake. Institutional investors collectively own 98.71% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $88.79, although some firms recently lowered their targets.
• BioMarin reported quarterly earnings of $1.20 per share, beating estimates of $0.95, while revenue rose 20% year over year to $989.7 million. Shares opened at $65.29, within a 12-month range of $49.26 to $70.98.

Caisse de depot et placement du Quebec purchased a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,236,446 shares of the biotechnology company's stock, valued at approximately $70,749,000. Caisse de depot et placement du Quebec owned 0.64% of BioMarin Pharmaceutical at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management purchased a new position in BioMarin Pharmaceutical during the fourth quarter valued at $26,000. CIBC Private Wealth Group LLC lifted its stake in BioMarin Pharmaceutical by 38.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company's stock worth $39,000 after purchasing an additional 179 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of BioMarin Pharmaceutical during the 2nd quarter valued at about $39,000. Caitong International Asset Management Co. Ltd bought a new position in shares of BioMarin Pharmaceutical during the 3rd quarter valued at about $40,000. Finally, Parallel Advisors LLC grew its position in shares of BioMarin Pharmaceutical by 62.2% during the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company's stock valued at $42,000 after purchasing an additional 295 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. UBS Group set a $88.00 price target on BioMarin Pharmaceutical in a report on Wednesday. Barclays raised their target price on shares of BioMarin Pharmaceutical from $105.00 to $111.00 and gave the company an "overweight" rating in a report on Monday, August 17th. HC Wainwright decreased their price target on shares of BioMarin Pharmaceutical from $60.00 to $59.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 18th. Sanford C. Bernstein lowered their price objective on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an "outperform" rating for the company in a research report on Tuesday, May 5th. Finally, Royal Bank Of Canada reduced their target price on shares of BioMarin Pharmaceutical from $66.00 to $62.00 and set a "sector perform" rating on the stock in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $88.79.

BioMarin Pharmaceutical Stock Down 0.5%

Shares of BMRN opened at $65.29 on Friday. The firm has a fifty day moving average price of $61.50 and a 200-day moving average price of $58.10. The company has a current ratio of 2.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $12.64 billion, a P/E ratio of 176.46, a P/E/G ratio of 0.47 and a beta of 0.24. BioMarin Pharmaceutical Inc. has a 12-month low of $49.26 and a 12-month high of $70.98.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, topping the consensus estimate of $0.95 by $0.25. The company had revenue of $989.71 million for the quarter, compared to the consensus estimate of $932.03 million. BioMarin Pharmaceutical had a net margin of 2.14% and a return on equity of 5.32%. The firm's revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.44 EPS. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. Equities research analysts expect that BioMarin Pharmaceutical Inc. will post 4.1 earnings per share for the current year.

BioMarin Pharmaceutical Company 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.

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