Ieq Capital LLC purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 197,988 shares of the biotechnology company’s stock, valued at approximately $11,329,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Viking Global Investors LP boosted its holdings in BioMarin Pharmaceutical by 13.8% during the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock valued at $675,505,000 after acquiring an additional 1,488,552 shares during the period. Norges Bank purchased a new stake in BioMarin Pharmaceutical during the fourth quarter worth about $447,572,000. AQR Capital Management LLC increased its stake in BioMarin Pharmaceutical by 12.7% during the fourth quarter. AQR Capital Management LLC now owns 6,686,916 shares of the biotechnology company’s stock worth $395,197,000 after purchasing an additional 754,807 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of BioMarin Pharmaceutical by 14.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,802,930 shares of the biotechnology company’s stock worth $214,804,000 after purchasing an additional 481,176 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of BioMarin Pharmaceutical by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 3,674,089 shares of the biotechnology company’s stock worth $218,395,000 after purchasing an additional 131,969 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.
Wall Street Analysts Forecast Growth
BMRN has been the topic of several recent research reports. Morgan Stanley upped 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. Citigroup raised their price target on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Barclays boosted their price target on shares of BioMarin Pharmaceutical from $105.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. BMO Capital Markets initiated coverage on BioMarin Pharmaceutical in a research report on Wednesday. They set an “outperform” rating and a $98.00 price objective on the stock. Finally, Wall Street Zen upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Two equities 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.
BioMarin Pharmaceutical Stock Down 1.4%
BMRN stock opened at $66.70 on Friday. The company has a market cap of $12.91 billion, a price-to-earnings ratio of 180.27, a price-to-earnings-growth ratio of 0.48 and a beta of 0.24. The company has a fifty day moving average price of $60.67 and a 200 day moving average price of $57.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.39 and a quick ratio of 1.32. BioMarin Pharmaceutical Inc. has a 12 month low of $49.26 and a 12 month high of $70.98.
BioMarin Pharmaceutical (NASDAQ:BMRN – Get Free Report) last issued its earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $932.03 million. During the same quarter in the previous year, the firm earned $1.44 earnings per share. The business’s quarterly revenue 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. Sell-side 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 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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