Summit Global Investments Purchases New Position in BioMarin Pharmaceutical Inc. $BMRN

Summit Global Investments purchased a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 32,667 shares of the biotechnology company’s stock, valued at approximately $1,869,000.

Several other large investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its position 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 purchasing an additional 388 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of BioMarin Pharmaceutical by 207.4% during the first quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock valued at $850,000 after acquiring an additional 8,112 shares during the period. Focus Partners Wealth lifted its stake in shares of BioMarin Pharmaceutical by 70.2% during the first quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock valued at $835,000 after acquiring an additional 4,876 shares during the period. Sivia Capital Partners LLC boosted its holdings in BioMarin Pharmaceutical by 33.0% in the second quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company’s stock valued at $244,000 after acquiring an additional 1,102 shares during the last quarter. Finally, Invesco Ltd. increased its position in BioMarin Pharmaceutical by 23.5% in the second quarter. Invesco Ltd. now owns 618,835 shares of the biotechnology company’s stock worth $34,017,000 after purchasing an additional 117,617 shares during the period. 98.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. UBS Group reissued a “neutral” rating on shares of BioMarin Pharmaceutical in a report on Tuesday, July 14th. Weiss Ratings lowered shares of BioMarin Pharmaceutical from a “hold (c-)” rating to a “sell (d)” rating in a research note on Tuesday. Canaccord Genuity Group boosted their price target on shares of BioMarin Pharmaceutical from $111.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Morgan Stanley increased their price objective on shares of BioMarin Pharmaceutical from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Oppenheimer raised their price objective on shares of BioMarin Pharmaceutical from $95.00 to $97.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

BioMarin Pharmaceutical Trading Down 1.7%

NASDAQ:BMRN opened at $67.36 on Friday. BioMarin Pharmaceutical Inc. has a 1-year low of $49.26 and a 1-year high of $70.98. The business’s 50-day moving average price is $59.56 and its two-hundred day moving average price is $57.50. The company has a current ratio of 2.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $13.04 billion, a price-to-earnings ratio of 182.05, a PEG ratio of 0.48 and a beta of 0.24.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.25. The firm 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 company’s revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.44 earnings per share. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. On average, equities analysts expect that BioMarin Pharmaceutical Inc. will post 4.24 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.