Public Employees Retirement System of Ohio Purchases Shares of 60,483 BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Public Employees Retirement System of Ohio acquired 60,483 BioMarin shares worth approximately $3.46 million during the second quarter. Institutional investors and hedge funds collectively own 98.71% of the company.
• Analyst sentiment remains favorable, with BioMarin receiving a “Moderate Buy” consensus rating and an average price target of $89.17; several firms recently raised their targets as high as $111.
• BioMarin reported quarterly EPS of $1.20, beating estimates of $0.95, while revenue rose 20% year over year to $989.71 million. Shares opened at $66.53, near the upper half of their 52-week range.

Public Employees Retirement System of Ohio acquired a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 60,483 shares of the biotechnology company's stock, valued at approximately $3,461,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. CIBC Private Wealth Group LLC increased its stake in BioMarin Pharmaceutical by 38.2% during the fourth 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 last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $39,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter worth about $40,000. Parallel Advisors LLC increased its position in BioMarin Pharmaceutical by 62.2% during the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company's stock worth $42,000 after purchasing an additional 295 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. acquired a new stake in BioMarin Pharmaceutical during the 2nd quarter worth approximately $56,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Jefferies Financial Group lifted their price target on shares of BioMarin Pharmaceutical from $104.00 to $105.00 and gave the company a "buy" rating in a research report on Monday, August 31st. Piper Sandler raised their target price on shares of BioMarin Pharmaceutical from $88.00 to $90.00 and gave the company an "overweight" rating in a research note on Tuesday. Bank of America reduced their target price on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a "buy" rating on the stock in a report on Tuesday, May 19th. Wall Street Zen raised shares of BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Barclays increased their price target on BioMarin Pharmaceutical from $105.00 to $111.00 and gave the company an "overweight" rating in a report on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, BioMarin Pharmaceutical has an average rating of "Moderate Buy" and an average target price of $89.17.

BioMarin Pharmaceutical Stock Up 0.2%

BMRN stock opened at $66.53 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.56. The firm has a 50 day simple moving average of $62.58 and a 200-day simple moving average of $58.37. The company has a market capitalization of $12.88 billion, a P/E ratio of 179.81, a PEG ratio of 0.48 and a beta of 0.24. BioMarin Pharmaceutical Inc. has a twelve month low of $49.26 and a twelve month high of $70.98.

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

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.

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.

Continue following MarketBeat

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

Add As Preferred Source