Van ECK Associates Corp grew its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 68.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 307,103 shares of the biotechnology company's stock after buying an additional 125,221 shares during the quarter. Van ECK Associates Corp owned 0.16% of BioMarin Pharmaceutical worth $17,572,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Rice Hall James & Associates LLC bought a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $14,203,000. Bank of New York Mellon Corp bought a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth $66,107,000. Edmond DE Rothschild Holding S.A. bought a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth $39,312,000. Swedbank AB boosted its stake in BioMarin Pharmaceutical by 70.6% in the fourth quarter. Swedbank AB now owns 796,737 shares of the biotechnology company's stock valued at $47,350,000 after buying an additional 329,794 shares in the last quarter. Finally, ADAR1 Capital Management LLC acquired a new stake in BioMarin Pharmaceutical in the second quarter valued at about $2,804,000. Institutional investors and hedge funds own 98.71% of the company's stock.
Wall Street Analysts Forecast Growth
BMRN has been the subject of several research analyst reports. BMO Capital Markets started coverage on BioMarin Pharmaceutical in a research note on Wednesday, August 19th. They set an "outperform" rating and a $98.00 target price for the company. UBS Group set a $88.00 price target on shares of BioMarin Pharmaceutical in a research note on Wednesday. Wall Street Zen raised shares of BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Canaccord Genuity Group upped their price objective on shares of BioMarin Pharmaceutical from $111.00 to $114.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Finally, Sanford C. Bernstein dropped their price objective on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an "outperform" rating for the company in a research note on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, BioMarin Pharmaceutical currently has an average rating of "Moderate Buy" and a consensus price target of $88.79.
Check Out Our Latest Analysis on BioMarin Pharmaceutical
BioMarin Pharmaceutical Price Performance
BioMarin Pharmaceutical stock opened at $64.67 on Monday. The stock has a 50-day moving average price of $61.70 and a two-hundred day moving average price of $58.15. BioMarin Pharmaceutical Inc. has a 12 month low of $49.26 and a 12 month high of $70.98. The company has a market capitalization of $12.52 billion, a PE ratio of 174.78, a P/E/G ratio of 0.46 and a beta of 0.24. 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 (NASDAQ:BMRN - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.25. The company had revenue of $989.71 million for 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% compared to the same quarter last year. During the same period in the previous year, the business posted $1.44 earnings per share. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. Analysts expect that BioMarin Pharmaceutical Inc. will post 4.1 EPS for the current year.
About BioMarin Pharmaceutical
(
Free Report)
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.
See Also
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