BioMarin Pharmaceutical Inc. $BMRN Shares Sold by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings cut its BioMarin stake by 72.6% in the third quarter, selling 37,178 shares and retaining 14,042 shares worth approximately $843,000.
• Other institutional investors made mixed moves, while institutional and hedge-fund ownership remained very high at 98.71% of BioMarin’s outstanding stock.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $88.60; the company also exceeded quarterly EPS and revenue expectations.

Crossmark Global Holdings Inc. reduced its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 72.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,042 shares of the biotechnology company's stock after selling 37,178 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in BioMarin Pharmaceutical were worth $843,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC bought a new stake in BioMarin Pharmaceutical in the third quarter valued at approximately $564,000. Nisa Investment Advisors LLC lifted its position in shares of BioMarin Pharmaceutical by 13.3% in the third quarter. Nisa Investment Advisors LLC now owns 4,659 shares of the biotechnology company's stock valued at $280,000 after buying an additional 546 shares during the last quarter. Secure Asset Management LLC lifted its position in shares of BioMarin Pharmaceutical by 3.0% in the third quarter. Secure Asset Management LLC now owns 80,592 shares of the biotechnology company's stock valued at $4,835,000 after buying an additional 2,384 shares during the last quarter. Mather Group LLC. lifted its position in shares of BioMarin Pharmaceutical by 71.0% in the third quarter. Mather Group LLC. now owns 2,337 shares of the biotechnology company's stock valued at $140,000 after buying an additional 970 shares during the last quarter. Finally, Sanders Morris Harris LLC bought a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth approximately $240,000. Institutional investors and hedge funds own 98.71% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BMRN. Oppenheimer boosted their target price on BioMarin Pharmaceutical from $95.00 to $97.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Piper Sandler raised their price target on BioMarin Pharmaceutical from $88.00 to $90.00 and gave the company an "overweight" rating in a report on Tuesday, September 1st. William Blair raised BioMarin Pharmaceutical to a "hold" rating in a report on Wednesday, September 23rd. Raymond James Financial raised shares of BioMarin Pharmaceutical from an "outperform" rating to a "strong-buy" rating and set a $109.00 price objective for the company in a research report on Monday, October 12th. Finally, UBS Group began coverage on shares of BioMarin Pharmaceutical in a report on Thursday, October 15th. They issued a "buy" rating and a $88.00 price objective on the stock. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $88.60.

BioMarin Pharmaceutical Stock Down 0.4%

BMRN stock opened at $55.75 on Tuesday. BioMarin Pharmaceutical Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $70.98. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.39 and a quick ratio of 1.32. The stock has a market capitalization of $10.79 billion, a price-to-earnings ratio of 150.68, a PEG ratio of 0.61 and a beta of 0.22. The business's fifty day moving average price is $61.71 and its two-hundred day moving average price is $58.52.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced 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. BioMarin Pharmaceutical had a net margin of 2.14% and a return on equity of 5.32%. The company had revenue of $989.71 million during the quarter, compared to analysts' expectations of $932.03 million. During the same quarter in the previous year, the business posted $1.44 earnings per share. BioMarin Pharmaceutical's quarterly revenue was up 20.0% on a year-over-year basis. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. On average, equities analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.59 earnings per share for the current year.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc is a biotechnology company focused on developing and commercializing therapies for serious and life-threatening rare diseases. The company's research and development efforts center on genetic and metabolic disorders, where patient populations are often small and treatment options are limited.

BioMarin's marketed products include Voxzogo (vosoritide) for children with achondroplasia and open growth plates, Palynziq (pegvaliase) and Kuvan (sapropterin dihydrochloride) for phenylketonuria, Brineura (cerliponase alfa) for late-infantile neuronal ceroid lipofuscinosis type 2, Vimizim (elosulfase alfa) for Morquio A syndrome, and Naglazyme (galsulfase) for mucopolysaccharidosis VI.

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