Persistent Asset Partners Ltd Invests $4.57 Million in BioMarin Pharmaceutical Inc. $BMRN

Persistent Asset Partners Ltd bought a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 79,933 shares of the biotechnology company’s stock, valued at approximately $4,574,000. BioMarin Pharmaceutical makes up approximately 1.4% of Persistent Asset Partners Ltd’s investment portfolio, making the stock its 15th biggest position.

A number of other institutional investors have also recently bought and sold shares of BMRN. Activest Wealth Management bought a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth about $26,000. CIBC Private Wealth Group LLC increased its position in BioMarin Pharmaceutical by 38.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 179 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in BioMarin Pharmaceutical during the 3rd quarter worth about $40,000. Parallel Advisors LLC boosted its stake in shares of BioMarin Pharmaceutical by 62.2% in the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 295 shares during the last quarter. Finally, Wick Capital Partners LLC bought a new position in BioMarin Pharmaceutical in the fourth quarter valued at approximately $73,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $67.36 on Monday. The company has a market cap of $13.04 billion, a P/E ratio of 182.05, a price-to-earnings-growth ratio of 0.47 and a beta of 0.24. BioMarin Pharmaceutical Inc. has a twelve month low of $49.26 and a twelve month high of $70.98. The business has a 50 day moving average price of $59.56 and a two-hundred day moving average price of $57.51. The company has a quick ratio of 1.32, a current ratio of 2.39 and a debt-to-equity ratio of 0.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.25. The company had revenue of $989.71 million for the quarter, compared to the consensus estimate of $932.03 million. BioMarin Pharmaceutical had a net margin of 2.14% and a return on equity of 5.32%. The firm’s revenue was up 20.0% compared to the same quarter last year. During the same period last year, the company earned $1.44 earnings per share. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. As a group, analysts expect that BioMarin Pharmaceutical Inc. will post 4.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Oppenheimer increased their price target on BioMarin Pharmaceutical from $95.00 to $97.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Wall Street Zen upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Morgan Stanley increased their target price on BioMarin Pharmaceutical from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Royal Bank Of Canada reduced their target price on BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 7th. Finally, The Goldman Sachs Group started coverage on BioMarin Pharmaceutical in a research report on Monday, May 11th. They set a “neutral” rating and a $69.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and a consensus price target of $88.00.

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.