1,236,446 Shares in BioMarin Pharmaceutical Inc. $BMRN Purchased by Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec bought a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the second quarter, Holdings Channel reports. The fund bought 1,236,446 shares of the biotechnology company’s stock, valued at approximately $70,749,000.

Several other large investors have also modified their holdings of the business. NewEdge Advisors LLC lifted its position in shares of BioMarin Pharmaceutical by 11.5% in the 1st quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company’s stock worth $266,000 after purchasing an additional 388 shares during the period. Empowered Funds LLC lifted its holdings in BioMarin Pharmaceutical by 207.4% during the first quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock worth $850,000 after buying an additional 8,112 shares during the period. Focus Partners Wealth boosted its position in BioMarin Pharmaceutical by 70.2% during the 1st 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 in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of BioMarin Pharmaceutical by 33.0% in the 2nd 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 period. Finally, Invesco Ltd. raised its position in shares of BioMarin Pharmaceutical by 23.5% in the 2nd quarter. Invesco Ltd. now owns 618,835 shares of the biotechnology company’s stock worth $34,017,000 after acquiring an additional 117,617 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on BMRN shares. Royal Bank Of Canada cut their target price on BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 7th. Piper Sandler boosted their price objective on shares of BioMarin Pharmaceutical from $82.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. The Goldman Sachs Group initiated coverage on shares of BioMarin Pharmaceutical in a research note on Monday, May 11th. They issued a “neutral” rating and a $69.00 target price for the company. BMO Capital Markets began coverage on BioMarin Pharmaceutical in a research report on Wednesday, August 19th. They set an “outperform” rating and a $98.00 price target on the stock. Finally, Barclays raised their price objective on BioMarin Pharmaceutical from $105.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. Two 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 issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.79.

BioMarin Pharmaceutical Trading Down 0.5%

NASDAQ BMRN opened at $65.29 on Friday. The company has a fifty day simple moving average of $61.50 and a two-hundred day simple moving average of $58.10. The stock has a market cap of $12.64 billion, a P/E ratio of 176.46, a P/E/G ratio of 0.47 and a beta of 0.24. BioMarin Pharmaceutical Inc. has a 12-month low of $49.26 and a 12-month high of $70.98. The company has a current ratio of 2.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results 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. BioMarin Pharmaceutical had a net margin of 2.14% and a return on equity of 5.32%. The company had revenue of $989.71 million during the quarter, compared to the consensus estimate of $932.03 million. During the same period in the previous year, the firm posted $1.44 earnings per share. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. On average, analysts forecast 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.