Canada Pension Plan Investment Board Makes New Investment in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Canada Pension Plan Investment Board acquired 224,900 BioMarin shares worth approximately $12.9 million, joining other institutions that recently increased exposure. Institutional investors collectively own 98.71% of the company.
• Analyst sentiment is broadly positive, with BioMarin receiving a consensus “Moderate Buy” rating and an average price target of $88.79.
• BioMarin exceeded quarterly expectations, reporting $1.20 in earnings per share versus the $0.95 estimate and $989.7 million in revenue, up 20% year over year.

Canada Pension Plan Investment Board purchased a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 224,900 shares of the biotechnology company's stock, valued at approximately $12,869,000. Canada Pension Plan Investment Board owned approximately 0.12% of BioMarin Pharmaceutical as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Rice Hall James & Associates LLC purchased a new stake in BioMarin Pharmaceutical during the 2nd quarter valued at $14,203,000. Bank of New York Mellon Corp purchased a new position in BioMarin Pharmaceutical during the second quarter worth $66,107,000. Edmond DE Rothschild Holding S.A. bought a new position in BioMarin Pharmaceutical during the second quarter valued at $39,312,000. Swedbank AB increased its position in BioMarin Pharmaceutical by 70.6% during the fourth quarter. Swedbank AB now owns 796,737 shares of the biotechnology company's stock valued at $47,350,000 after acquiring an additional 329,794 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of BioMarin Pharmaceutical by 4.3% in the fourth quarter. LSV Asset Management now owns 882,200 shares of the biotechnology company's stock valued at $52,429,000 after acquiring an additional 36,700 shares during the period. Institutional investors own 98.71% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on BMRN shares. Canaccord Genuity Group raised their price objective on shares of BioMarin Pharmaceutical from $111.00 to $114.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Oppenheimer raised their price objective on BioMarin Pharmaceutical from $95.00 to $97.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Barclays upped their price target on shares of BioMarin Pharmaceutical from $105.00 to $111.00 and gave the stock an "overweight" rating in a research report on Monday, August 17th. HC Wainwright reduced their price objective on shares of BioMarin Pharmaceutical from $60.00 to $59.00 and set a "neutral" rating for the company in a research note on Tuesday, August 18th. Finally, Wall Street Zen upgraded BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.79.

BioMarin Pharmaceutical Price Performance

NASDAQ BMRN opened at $64.67 on Friday. The firm's fifty day simple moving average is $61.70 and its two-hundred day simple moving average is $58.15. The firm has a market capitalization of $12.52 billion, a P/E ratio of 174.78, a P/E/G ratio of 0.46 and a beta of 0.24. 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 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 issued its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, beating the consensus estimate of $0.95 by $0.25. BioMarin Pharmaceutical had a return on equity of 5.32% and a net margin of 2.14%.The firm had revenue of $989.71 million during the quarter, compared to analyst estimates of $932.03 million. During the same quarter in the prior year, the business posted $1.44 EPS. The business's revenue for the quarter was up 20.0% compared to the same quarter last year. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. Analysts forecast that BioMarin Pharmaceutical Inc. will post 4.1 EPS for the current fiscal 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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