Edmond DE Rothschild Holding S.A. purchased a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 687,030 shares of the biotechnology company’s stock, valued at approximately $39,312,000.
Several other institutional investors have also made changes to their positions in the stock. NewEdge Advisors LLC raised its holdings in BioMarin Pharmaceutical by 11.5% in the 1st quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company’s stock valued at $266,000 after acquiring an additional 388 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of BioMarin Pharmaceutical by 207.4% during the 1st quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock worth $850,000 after purchasing an additional 8,112 shares in the last quarter. Focus Partners Wealth increased its position in shares of BioMarin Pharmaceutical by 70.2% in the first quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock worth $835,000 after purchasing an additional 4,876 shares during the period. Sivia Capital Partners LLC increased its position in shares of BioMarin Pharmaceutical by 33.0% in the second quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company’s stock worth $244,000 after purchasing an additional 1,102 shares during the period. Finally, Invesco Ltd. raised its stake in BioMarin Pharmaceutical by 23.5% in the second quarter. Invesco Ltd. now owns 618,835 shares of the biotechnology company’s stock valued at $34,017,000 after purchasing an additional 117,617 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors.
BioMarin Pharmaceutical Stock Performance
BioMarin Pharmaceutical stock opened at $69.33 on Thursday. BioMarin Pharmaceutical Inc. has a 12-month low of $49.26 and a 12-month high of $70.98. 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 business’s 50-day moving average price is $60.21 and its two-hundred day moving average price is $57.74. The stock has a market cap of $13.42 billion, a PE ratio of 187.38, a P/E/G ratio of 0.48 and a beta of 0.24.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the stock. Barclays upped their price objective on shares of BioMarin Pharmaceutical from $105.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday. Oppenheimer raised their target price on shares of BioMarin Pharmaceutical from $95.00 to $97.00 and gave the company an “outperform” rating in a report on Friday, August 7th. UBS Group restated a “neutral” rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, July 14th. BMO Capital Markets started coverage on shares of BioMarin Pharmaceutical in a report on Wednesday. They set an “outperform” rating and a $98.00 price target for the company. Finally, Bank of America reduced their price target on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average target price of $88.83.
Get Our Latest Research Report on BioMarin Pharmaceutical
Key Headlines Impacting BioMarin Pharmaceutical
Here are the key news stories impacting BioMarin Pharmaceutical this week:
- Positive Sentiment: BioMarin agreed to acquire Alesta Therapeutics for $275 million upfront, with up to $215 million in milestone payments. The transaction gives BioMarin rights to ALE1, an oral therapy being developed for hypophosphatasia (HPP), a rare genetic bone disorder. The potential to offer a first oral treatment could address a significant unmet need and expand BioMarin’s presence in rare skeletal diseases. CNBC article
- Positive Sentiment: Investors and analysts see strategic and longer-term growth potential from adding ALE1 to BioMarin’s pipeline. Wedbush said the acquisition strengthens the company’s outlook, while BMO Capital Markets initiated coverage with an Outperform rating and a $98 price target, implying substantial upside from the referenced price. Barclays and Piper Sandler also issued bullish forecasts. Wedbush article
- Neutral Sentiment: The acquisition broadens BioMarin’s rare-disease portfolio, but ALE1 is still in early clinical trials. Its commercial value depends on successful development, regulatory approval and achievement of milestones, making the program a longer-term rather than immediate revenue driver. Alesta will also spin out its other assets before closing. BioMarin announcement
- Negative Sentiment: HC Wainwright lowered its price target from $60 to $59 and maintained a Neutral rating, while another analyst cut its target to $59. These targets suggest some investors believe the stock’s recent rise has outpaced near-term fundamentals and that execution and valuation risks remain. Analyst coverage
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.
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