Primecap Management Co. CA Invests $811.96 Million in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Primecap Management acquired 14.19 million BioMarin shares worth approximately $811.96 million, giving it a 7.33% stake. Institutional investors and hedge funds collectively own 98.71% of BMRN.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $88.83.
• BioMarin exceeded quarterly expectations, reporting $1.20 in EPS versus $0.95 expected and revenue of $989.71 million versus $932.03 million. Revenue increased 20% year over year, while shares opened at $66.12.

Primecap Management Co. CA acquired a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 14,190,183 shares of the biotechnology company's stock, valued at approximately $811,962,000. Primecap Management Co. CA owned approximately 7.33% of BioMarin Pharmaceutical at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BMRN. CIBC Private Wealth Group LLC raised its holdings in 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 buying an additional 179 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of BioMarin Pharmaceutical by 0.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 42,982 shares of the biotechnology company's stock valued at $2,554,000 after buying an additional 183 shares during the period. Caerus Investment Advisors LLC boosted its holdings in shares of BioMarin Pharmaceutical by 2.8% in the fourth quarter. Caerus Investment Advisors LLC now owns 10,236 shares of the biotechnology company's stock valued at $608,000 after buying an additional 278 shares during the period. Chicago Partners Investment Group LLC increased its position in shares of BioMarin Pharmaceutical by 2.4% during the first quarter. Chicago Partners Investment Group LLC now owns 12,183 shares of the biotechnology company's stock worth $660,000 after acquiring an additional 290 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in shares of BioMarin Pharmaceutical by 62.2% during the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company's stock worth $42,000 after acquiring an additional 295 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on BMRN. Morgan Stanley boosted their price objective on shares of BioMarin Pharmaceutical from $119.00 to $124.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. HC Wainwright lowered their target price on BioMarin Pharmaceutical from $60.00 to $59.00 and set a "neutral" rating for the company in a report on Tuesday, August 18th. Citigroup lifted their price target on BioMarin Pharmaceutical from $75.00 to $76.00 and gave the company a "buy" rating in a research note on Thursday, July 16th. Royal Bank Of Canada reduced their price objective on BioMarin Pharmaceutical from $66.00 to $62.00 and set a "sector perform" rating for the company in a research report on Tuesday, July 7th. Finally, Bank of America dropped their target price on BioMarin Pharmaceutical from $85.00 to $80.00 and set a "buy" rating on the stock in a research report on Tuesday, May 19th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $88.83.

BioMarin Pharmaceutical Stock Up 1.6%

Shares of BMRN stock opened at $66.12 on Wednesday. The firm's fifty day moving average price is $61.07 and its two-hundred day moving average price is $57.99. 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 1 year low of $49.26 and a 1 year high of $70.98. The firm has a market capitalization of $12.80 billion, a P/E ratio of 178.70, a PEG ratio of 0.47 and a beta of 0.24.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $989.71 million during the quarter, compared to the consensus estimate of $932.03 million. BioMarin Pharmaceutical had a net margin of 2.14% and a return on equity of 5.32%. The company's quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.44 EPS. 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 fiscal year.

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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