Trails Edge Capital Partners LP Takes $29.30 Billion Position in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Trails Edge Capital Partners initiated a BioMarin Pharmaceutical position of 512,000 shares valued at approximately $29.3 billion, representing 4.7% of its portfolio and about 0.26% of BioMarin’s outstanding stock.
• Analysts maintain a generally positive view, with BioMarin carrying a “Moderate Buy” consensus rating and an average price target of $88.83, despite some recent target-price reductions and one sell rating.
• BioMarin’s latest quarterly results exceeded expectations: adjusted EPS was $1.20 versus the $0.95 consensus, while revenue rose 20% year over year to $989.71 million.

Trails Edge Capital Partners LP acquired a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 512,000 shares of the biotechnology company's stock, valued at approximately $29,296,640,000. BioMarin Pharmaceutical comprises 4.7% of Trails Edge Capital Partners LP's holdings, making the stock its 6th biggest position. Trails Edge Capital Partners LP owned approximately 0.26% of BioMarin Pharmaceutical at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Activest Wealth Management acquired a new position in shares of BioMarin Pharmaceutical during the fourth quarter worth $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of BioMarin Pharmaceutical in the second quarter worth $39,000. CIBC Private Wealth Group LLC increased its holdings in BioMarin Pharmaceutical by 38.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company's stock valued at $39,000 after purchasing an additional 179 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in BioMarin Pharmaceutical in the third quarter valued at $40,000. Finally, Parallel Advisors LLC raised 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 during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on BMRN shares. Sanford C. Bernstein cut their target price on BioMarin Pharmaceutical from $94.00 to $82.00 and set an "outperform" rating on the stock in a report on Tuesday, May 5th. Oppenheimer increased their price target on BioMarin Pharmaceutical from $95.00 to $97.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. Weiss Ratings downgraded BioMarin Pharmaceutical from a "hold (c-)" rating to a "sell (d)" rating in a research report on Tuesday, August 11th. The Goldman Sachs Group started coverage on BioMarin Pharmaceutical in a research note on Monday, May 11th. They issued a "neutral" rating and a $69.00 price objective on the stock. Finally, Bank of America reduced their target price on BioMarin Pharmaceutical from $85.00 to $80.00 and set a "buy" rating on the stock in a report on Tuesday, May 19th. Two research analysts have 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 company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $88.83.

BioMarin Pharmaceutical Stock Up 1.6%

BioMarin Pharmaceutical stock opened at $66.12 on Wednesday. The company has a market capitalization of $12.80 billion, a PE ratio of 178.70, a PEG ratio of 0.47 and a beta of 0.24. BioMarin Pharmaceutical Inc. has a 12-month low of $49.26 and a 12-month high of $70.98. The firm's fifty day moving average is $61.07 and its 200 day moving average is $57.99. The company has a quick ratio of 1.32, a current ratio of 2.39 and a debt-to-equity ratio of 0.56.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted 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. BioMarin Pharmaceutical had a net margin of 2.14% and a return on equity of 5.32%. The business had revenue of $989.71 million during the quarter, compared to analysts' expectations of $932.03 million. During the same period last year, the company posted $1.44 earnings per share. The business's quarterly revenue was up 20.0% on a year-over-year basis. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. As a group, sell-side 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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