Algert Global LLC Has $6.78 Million Position in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Algert Global reduced its BioMarin position by 28.9% in the second quarter, selling 48,130 shares and retaining 118,440 shares valued at approximately $6.78 million.
• Institutional ownership remains very high at 98.71%, with major investors including Viking Global, Norges Bank, AQR Capital Management, Dimensional Fund Advisors and Geode Capital increasing or establishing positions.
• Analysts maintain a generally positive view, with BioMarin carrying a “Moderate Buy” consensus rating and an average price target of $88.79. The company also exceeded quarterly EPS and revenue estimates, reporting $1.20 EPS and $989.71 million in revenue.

Algert Global LLC lessened its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 28.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,440 shares of the biotechnology company's stock after selling 48,130 shares during the quarter. Algert Global LLC owned approximately 0.06% of BioMarin Pharmaceutical worth $6,777,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BMRN. Viking Global Investors LP lifted its holdings in shares of BioMarin Pharmaceutical by 13.8% during the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company's stock worth $675,505,000 after purchasing an additional 1,488,552 shares during the period. Norges Bank bought a new position in BioMarin Pharmaceutical during the 4th quarter worth $447,572,000. AQR Capital Management LLC raised its position in BioMarin Pharmaceutical by 12.7% during the 4th quarter. AQR Capital Management LLC now owns 6,686,916 shares of the biotechnology company's stock worth $395,197,000 after purchasing an additional 754,807 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in BioMarin Pharmaceutical by 14.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,802,930 shares of the biotechnology company's stock worth $214,804,000 after buying an additional 481,176 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in BioMarin Pharmaceutical by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,674,089 shares of the biotechnology company's stock worth $218,395,000 after buying an additional 131,969 shares during the period. Institutional investors own 98.71% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on BMRN. HC Wainwright cut their price objective on BioMarin Pharmaceutical from $60.00 to $59.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 18th. Royal Bank Of Canada decreased their target price on shares of BioMarin Pharmaceutical from $66.00 to $62.00 and set a "sector perform" rating for the company in a research report on Tuesday, July 7th. Morgan Stanley raised their price target on shares of BioMarin Pharmaceutical from $119.00 to $124.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Wall Street Zen upgraded shares of BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Oppenheimer upped their price objective on shares of BioMarin Pharmaceutical from $95.00 to $97.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.79.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $65.61 on Thursday. The company has a fifty day moving average of $61.29 and a 200-day moving average of $58.05. The firm has a market capitalization of $12.70 billion, a P/E ratio of 177.32, a P/E/G ratio of 0.47 and a beta of 0.24. The company has a quick ratio of 1.32, a current ratio of 2.39 and a debt-to-equity ratio of 0.56. BioMarin Pharmaceutical Inc. has a twelve month low of $49.26 and a twelve month high of $70.98.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. BioMarin Pharmaceutical's quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.44 EPS. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. As a group, sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post 4.1 EPS 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.

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