VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Stake in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Virginia Retirement Systems bought 89,320 BioMarin shares in the second quarter, valued at approximately $5.1 million. Institutional investors collectively own 98.71% of the company.
• Analysts maintain a generally positive outlook, with BioMarin receiving a consensus “Moderate Buy” rating and an average price target of $89.17.
• BioMarin exceeded quarterly expectations, reporting $1.20 in EPS versus the $0.95 consensus and revenue of $989.71 million, up 20% year over year.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 89,320 shares of the biotechnology company's stock, valued at approximately $5,111,000.

Several other institutional investors and hedge funds have also bought and sold shares of BMRN. Rice Hall James & Associates LLC purchased a new stake in BioMarin Pharmaceutical in the second quarter valued at about $14,203,000. Bank of New York Mellon Corp purchased a new stake in shares of BioMarin Pharmaceutical during the second quarter worth about $66,107,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of BioMarin Pharmaceutical during the second quarter worth about $39,312,000. ADAR1 Capital Management LLC acquired a new position in shares of BioMarin Pharmaceutical during the second quarter valued at about $2,804,000. Finally, LSV Asset Management increased its holdings in shares of BioMarin Pharmaceutical by 4.3% during the fourth quarter. LSV Asset Management now owns 882,200 shares of the biotechnology company's stock valued at $52,429,000 after acquiring an additional 36,700 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BMRN has been the subject of a number of recent analyst reports. 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 research note on Friday, August 7th. Barclays upped their price target on shares of BioMarin Pharmaceutical from $105.00 to $111.00 and gave the company an "overweight" rating in a research note on Monday, August 17th. Citigroup lifted their price objective on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. Wall Street Zen raised shares of BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, UBS Group set a $88.00 target price on BioMarin Pharmaceutical in a research report on Wednesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of "Moderate Buy" and a consensus target price of $89.17.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $64.63 on Wednesday. The business's 50-day moving average is $62.90 and its two-hundred day moving average is $58.43. The company has a market capitalization of $12.51 billion, a P/E ratio of 174.68, a P/E/G ratio of 0.48 and a beta of 0.24. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.39. BioMarin Pharmaceutical Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $70.98.

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 (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.25. The business had revenue of $989.71 million during 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 company's revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 EPS. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. Research analysts predict that BioMarin Pharmaceutical Inc. will post 4.1 earnings per share for the current 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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