Squarepoint Ops LLC Cuts Stock Position in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Squarepoint Ops LLC cut its BioMarin stake by 70.5% in the second quarter, selling 253,734 shares and retaining 105,968 shares valued at approximately $6.1 million.
• Institutional ownership remains high at 98.71%, with major investors including Primecap Management, Viking Global Investors and California State Teachers Retirement System increasing or initiating positions.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an $89.17 price target. BioMarin also beat quarterly earnings and revenue estimates, reporting $1.20 in EPS and $989.71 million in revenue.

Squarepoint Ops LLC lessened its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 70.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,968 shares of the biotechnology company's stock after selling 253,734 shares during the period. Squarepoint Ops LLC owned approximately 0.05% of BioMarin Pharmaceutical worth $6,063,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Primecap Management Co. CA bought a new position in shares of BioMarin Pharmaceutical during the second quarter valued at $811,962,000. Viking Global Investors LP boosted its stake in BioMarin Pharmaceutical by 13.8% in 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 in the last quarter. California State Teachers Retirement System boosted its stake in BioMarin Pharmaceutical by 5,328.0% in the 2nd quarter. California State Teachers Retirement System now owns 11,662,523 shares of the biotechnology company's stock worth $667,330,000 after purchasing an additional 11,447,664 shares in the last quarter. Norges Bank purchased a new stake in BioMarin Pharmaceutical during the 4th quarter valued at about $447,572,000. Finally, AQR Capital Management LLC increased its stake in BioMarin Pharmaceutical by 12.7% during the 4th quarter. AQR Capital Management LLC now owns 6,686,916 shares of the biotechnology company's stock valued at $395,197,000 after purchasing an additional 754,807 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of BioMarin Pharmaceutical from $119.00 to $124.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Barclays raised their price target on shares of BioMarin Pharmaceutical from $105.00 to $111.00 and gave the company an "overweight" rating in a research report on Monday, August 17th. Canaccord Genuity Group boosted their price objective 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. Bank of America cut their target price on BioMarin Pharmaceutical from $85.00 to $80.00 and set a "buy" rating on the stock in a research note on Tuesday, May 19th. Finally, Oppenheimer lifted their target price on BioMarin Pharmaceutical from $95.00 to $97.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.17.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $65.68 on Friday. The company has a quick ratio of 1.32, a current ratio of 2.39 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average price of $63.30 and a 200-day moving average price of $58.50. BioMarin Pharmaceutical Inc. has a 52 week low of $49.26 and a 52 week high of $70.98. The firm has a market capitalization of $12.71 billion, a PE ratio of 177.51, a P/E/G ratio of 0.47 and a beta of 0.24.

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

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc is a biotechnology company focused on developing and commercializing therapies for rare and serious diseases. Founded in 1997 and headquartered in San Rafael, California, the company specializes in treatments for conditions that often have limited or no available therapeutic options, including inherited metabolic disorders, skeletal diseases, and certain bleeding disorders.

BioMarin's marketed products include Vimizim for mucopolysaccharidosis type IV A, Naglazyme for mucopolysaccharidosis type VI, Brineura for late-infantile neuronal ceroid lipofuscinosis type 2, Palynziq and Kuvan for phenylketonuria, and Voxzogo for achondroplasia in children with open growth plates.

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