Bank of New York Mellon Corp Makes New $66.11 Million Investment in BioMarin Pharmaceutical Inc. $BMRN

Bank of New York Mellon Corp bought a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,155,305 shares of the biotechnology company's stock, valued at approximately $66,107,000. Bank of New York Mellon Corp owned about 0.60% of BioMarin Pharmaceutical at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Private Wealth Group LLC increased its position in shares of BioMarin Pharmaceutical by 38.2% during the fourth 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. Northwestern Mutual Investment Management Company LLC lifted its holdings in BioMarin Pharmaceutical by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 42,982 shares of the biotechnology company's stock valued at $2,554,000 after purchasing an additional 183 shares in the last quarter. Caerus Investment Advisors LLC boosted its stake in BioMarin Pharmaceutical by 2.8% during the 4th quarter. Caerus Investment Advisors LLC now owns 10,236 shares of the biotechnology company's stock worth $608,000 after purchasing an additional 278 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in BioMarin Pharmaceutical by 2.4% during the 1st quarter. Chicago Partners Investment Group LLC now owns 12,183 shares of the biotechnology company's stock worth $660,000 after purchasing an additional 290 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings 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 worth $42,000 after buying an additional 295 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on BMRN shares. Citigroup increased their target price on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. Oppenheimer boosted their price target on shares of BioMarin Pharmaceutical from $95.00 to $97.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. Sanford C. Bernstein dropped 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 note on Tuesday, May 5th. Canaccord Genuity Group increased their price objective on shares of BioMarin Pharmaceutical from $111.00 to $114.00 and gave the company a "buy" rating in a report on Monday, August 10th. Finally, Wall Street Zen raised shares of BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $88.79.

BioMarin Pharmaceutical Trading Down 0.8%

Shares of BMRN opened at $65.61 on Thursday. BioMarin Pharmaceutical Inc. has a 12-month low of $49.26 and a 12-month high of $70.98. 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 firm has a 50-day moving average price of $61.29 and a 200 day moving average price of $58.05. The company has a current ratio of 2.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.56.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its earnings results on Thursday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, topping 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 period in the previous year, the firm earned $1.44 earnings per share. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. Sell-side analysts forecast 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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