Catalyst Funds Management Pty Ltd Invests $1.24 Million in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Catalyst Funds Management opened a new position in BioMarin Pharmaceutical, buying 20,800 shares worth about $1.24 million in the fourth quarter.
• Institutional ownership remains very high, with nearly 99% of BMRN shares held by hedge funds and other institutions; several large investors recently increased their stakes.
• Analyst sentiment is mixed but mostly positive: the stock has a consensus Moderate Buy rating, though some firms cut price targets while BioMarin’s Voxzogo study results and BMN 401 trial data created both optimism and uncertainty.

Catalyst Funds Management Pty Ltd purchased a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 20,800 shares of the biotechnology company's stock, valued at approximately $1,236,000.

A number of other institutional investors also recently made changes to their positions in the stock. Viking Global Investors LP lifted its stake in shares of BioMarin Pharmaceutical by 13.8% in the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company's stock worth $675,505,000 after acquiring an additional 1,488,552 shares during the period. AQR Capital Management LLC lifted its stake in shares of BioMarin Pharmaceutical by 6.3% in the 3rd quarter. AQR Capital Management LLC now owns 5,932,109 shares of the biotechnology company's stock worth $321,283,000 after acquiring an additional 351,536 shares during the period. Capital Research Global Investors lifted its stake in shares of BioMarin Pharmaceutical by 547.5% in the 3rd quarter. Capital Research Global Investors now owns 2,537,596 shares of the biotechnology company's stock worth $137,436,000 after acquiring an additional 2,145,717 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of BioMarin Pharmaceutical by 42.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,245,186 shares of the biotechnology company's stock worth $121,597,000 after acquiring an additional 671,566 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of BioMarin Pharmaceutical by 0.4% in the 3rd quarter. Northern Trust Corp now owns 1,662,268 shares of the biotechnology company's stock worth $90,028,000 after acquiring an additional 7,157 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BMRN. Piper Sandler reduced their price target on shares of BioMarin Pharmaceutical from $122.00 to $84.00 and set an "overweight" rating for the company in a research note on Friday, February 6th. Wolfe Research reissued an "outperform" rating on shares of BioMarin Pharmaceutical in a research note on Monday, March 16th. Canaccord Genuity Group cut their target price on shares of BioMarin Pharmaceutical from $116.00 to $111.00 and set a "buy" rating for the company in a research note on Friday. Weiss Ratings lowered shares of BioMarin Pharmaceutical from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, May 15th. Finally, Barclays increased their target price on shares of BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an "overweight" rating in a research note on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.67.

BioMarin Pharmaceutical Stock Down 0.0%

BMRN stock opened at $54.09 on Friday. BioMarin Pharmaceutical Inc. has a 52-week low of $49.26 and a 52-week high of $66.28. The company's 50 day simple moving average is $54.56 and its 200-day simple moving average is $56.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.81 and a quick ratio of 4.20. The firm has a market capitalization of $10.45 billion, a P/E ratio of 39.48, a P/E/G ratio of 0.41 and a beta of 0.23.

More BioMarin Pharmaceutical News

Here are the key news stories impacting BioMarin Pharmaceutical this week:

• Positive Sentiment: BioMarin said Voxzogo met its main goal in a late-stage hypochondroplasia study, supporting plans to file with the FDA in 2026 and boosting investor optimism about another potential growth driver. Article Title
• Positive Sentiment: Analyst commentary remained constructive overall, with Canaccord Genuity cutting its price target to $111 from $116 but reiterating a buy rating, implying substantial upside from current levels. Article Title
• Neutral Sentiment: Several press items from The Globe and Mail and TipRanks highlighted additional analyst coverage on BMRN, but they did not add a clear new operating catalyst beyond general sentiment and valuation commentary. Article Title
• Neutral Sentiment: BioMarin’s Phase 3 ENERGY 3 trial of BMN 401 met one co-primary endpoint but missed the other, making the readout mixed rather than clearly successful. Article Title
• Negative Sentiment: The mixed BMN 401 results triggered a notable selloff, with investors reacting to uncertainty around the drug’s commercial prospects and the likelihood of a clean regulatory path. Article Title

Insider Buying and Selling

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 16,486 shares of the company's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $60.46, for a total value of $996,743.56. Following the transaction, the executive vice president owned 79,953 shares in the company, valued at approximately $4,833,958.38. This represents a 17.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregory R. Friberg sold 3,281 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $53.85, for a total transaction of $176,681.85. Following the completion of the transaction, the executive vice president owned 51,818 shares in the company, valued at approximately $2,790,399.30. This represents a 5.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,093 shares of company stock worth $1,555,389 in the last 90 days. 0.85% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding BMRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.