Monaco Asset Management SAM Invests $10.58 Million in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Monaco Asset Management SAM purchased 184,937 BioMarin shares worth approximately $10.58 million, making BMRN about 0.8% of its portfolio and its eighth-largest holding.
• BioMarin reported quarterly EPS of $1.20, beating the $0.95 consensus estimate, while revenue rose 20% year over year to $989.71 million.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $88, versus a recent price of $67.36.

Monaco Asset Management SAM purchased a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 184,937 shares of the biotechnology company's stock, valued at approximately $10,582,000. BioMarin Pharmaceutical accounts for about 0.8% of Monaco Asset Management SAM's investment portfolio, making the stock its 8th biggest position. Monaco Asset Management SAM owned approximately 0.10% of BioMarin Pharmaceutical at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of BMRN. Activest Wealth Management purchased a new stake in BioMarin Pharmaceutical in the fourth quarter worth $26,000. CIBC Private Wealth Group LLC grew its stake in shares of BioMarin Pharmaceutical by 38.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company's stock worth $39,000 after acquiring an additional 179 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth $40,000. Parallel Advisors LLC increased its holdings in BioMarin Pharmaceutical by 62.2% in the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company's stock worth $42,000 after acquiring an additional 295 shares during the last quarter. Finally, Wick Capital Partners LLC purchased a new stake in BioMarin Pharmaceutical in the 4th quarter worth about $73,000. Hedge funds and other institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $67.36 on Monday. BioMarin Pharmaceutical Inc. has a 1-year low of $49.26 and a 1-year high of $70.98. The company has a market capitalization of $13.04 billion, a P/E ratio of 182.05, a P/E/G ratio of 0.47 and a beta of 0.24. 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 firm's 50 day simple moving average is $59.56 and its 200 day simple moving average is $57.51.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its quarterly 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 firm had revenue of $989.71 million for 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 business'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 EPS. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. Sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 4.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on BMRN. HC Wainwright upped their price objective on shares of BioMarin Pharmaceutical from $50.00 to $60.00 and gave the company a "neutral" rating in a report on Friday, August 7th. The Goldman Sachs Group began coverage on shares of BioMarin Pharmaceutical in a research note on Monday, May 11th. They issued a "neutral" rating and a $69.00 target price for the company. Royal Bank Of Canada lowered 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 report on Tuesday, July 7th. Canaccord Genuity Group upped their price target on shares of BioMarin Pharmaceutical from $111.00 to $114.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Finally, Oppenheimer raised their price objective on shares of BioMarin Pharmaceutical from $95.00 to $97.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $88.00.

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.

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