Empowered Funds LLC bought a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 39,267 shares of the biotechnology company's stock, valued at approximately $2,247,000.
Several other large investors have also made changes to their positions in BMRN. CIBC Private Wealth Group LLC grew its stake in BioMarin Pharmaceutical by 38.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company's stock valued at $39,000 after acquiring an additional 179 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in BioMarin Pharmaceutical during the second quarter worth $39,000. Caitong International Asset Management Co. Ltd acquired a new position in BioMarin Pharmaceutical during the third quarter worth $40,000. Parallel Advisors LLC lifted its holdings in BioMarin Pharmaceutical by 62.2% during the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company's stock valued at $42,000 after purchasing an additional 295 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. purchased a new position in BioMarin Pharmaceutical during the second quarter valued at $56,000. 98.71% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have recently issued reports on BMRN. Canaccord Genuity Group lifted their target price on shares of BioMarin Pharmaceutical from $111.00 to $114.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Oppenheimer upped 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. Royal Bank Of Canada decreased their price target on shares of BioMarin Pharmaceutical from $66.00 to $62.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 7th. Weiss Ratings cut BioMarin Pharmaceutical from a "hold (c-)" rating to a "sell (d)" rating in a report on Tuesday, August 11th. Finally, HC Wainwright boosted their price objective on BioMarin Pharmaceutical from $59.00 to $60.00 and gave the stock a "neutral" rating in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $89.17.
Get Our Latest Research Report on BioMarin Pharmaceutical
BioMarin Pharmaceutical Trading Up 3.3%
Shares of BMRN stock opened at $66.97 on Thursday. 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 quick ratio of 1.32 and a current ratio of 2.39. The stock's fifty day moving average is $62.24 and its two-hundred day moving average is $58.27. The firm has a market capitalization of $12.96 billion, a P/E ratio of 181.00, a PEG ratio of 0.46 and a beta of 0.24.
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, topping analysts' consensus estimates of $0.95 by $0.25. The business had revenue of $989.71 million during the quarter, compared to analyst estimates of $932.03 million. BioMarin Pharmaceutical had a net margin of 2.14% and a return on equity of 5.32%. The company's revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.44 earnings per share. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. Research analysts expect that BioMarin Pharmaceutical Inc. will post 4.11 earnings per share for the current fiscal year.
About BioMarin Pharmaceutical
(
Free Report)
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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