Palo Alto Investors LP Acquires Shares of 682,777 BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Palo Alto Investors LP acquired 682,777 BioMarin shares worth approximately $39.1 million, representing about 0.35% of the biotechnology company. Institutional investors collectively own 98.71% of BMRN.
• BioMarin reported quarterly earnings of $1.20 per share, beating estimates of $0.95, while revenue rose 20% year over year to $989.71 million. The company set fiscal 2026 EPS guidance at $4.90–$5.10.
• BMRN shares recently traded at $64.67, down 0.9%, but analysts remain broadly positive, assigning a consensus “Moderate Buy” rating and an average price target of $88.79.

Palo Alto Investors LP acquired a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 682,777 shares of the biotechnology company's stock, valued at approximately $39,068,500. BioMarin Pharmaceutical makes up about 0.0% of Palo Alto Investors LP's investment portfolio, making the stock its 6th largest position. Palo Alto Investors LP owned about 0.35% of BioMarin Pharmaceutical at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Primecap Management Co. CA bought a new position in BioMarin Pharmaceutical in the 2nd quarter valued at approximately $811,962,000. Norges Bank bought a new stake in BioMarin Pharmaceutical in the 4th quarter worth approximately $447,572,000. Vestal Point Capital LP increased its holdings in shares of BioMarin Pharmaceutical by 261.4% in the 4th quarter. Vestal Point Capital LP now owns 3,000,000 shares of the biotechnology company's stock valued at $178,290,000 after acquiring an additional 2,170,000 shares during the period. Viking Global Investors LP raised its position in shares of BioMarin Pharmaceutical by 13.8% during the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company's stock worth $675,505,000 after purchasing an additional 1,488,552 shares during the last quarter. Finally, Caisse de depot et placement du Quebec purchased a new position in BioMarin Pharmaceutical in the 2nd quarter valued at approximately $70,749,000. Institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Trading Down 0.9%

BMRN traded down $0.62 during mid-day trading on Friday, reaching $64.67. The stock had a trading volume of 1,098,426 shares, compared to its average volume of 2,069,118. The stock has a market capitalization of $12.52 billion, a P/E ratio of 174.78, a P/E/G ratio of 0.47 and a beta of 0.24. BioMarin Pharmaceutical Inc. has a 52 week low of $49.26 and a 52 week high of $70.98. The firm's fifty day simple moving average is $61.50 and its two-hundred day simple moving average is $58.10. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.39.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.25. The company had revenue of $989.71 million during the quarter, compared to analysts' expectations of $932.03 million. BioMarin Pharmaceutical had a return on equity of 5.32% and a net margin of 2.14%.The business's quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.44 earnings per share. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. On average, equities analysts predict that BioMarin Pharmaceutical Inc. will post 4.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on BMRN shares. Piper Sandler increased their price objective on shares of BioMarin Pharmaceutical from $82.00 to $88.00 and gave the company an "overweight" rating in a research note on Monday, August 17th. Wall Street Zen raised shares of BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Barclays lifted their price target on BioMarin Pharmaceutical from $105.00 to $111.00 and gave the company an "overweight" rating in a research report on Monday, August 17th. Citigroup increased their price target on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. Finally, Canaccord Genuity Group boosted their target price on shares of BioMarin Pharmaceutical from $111.00 to $114.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $88.79.

About BioMarin Pharmaceutical

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source