Rice Hall James & Associates LLC Buys New Holdings in BioMarin Pharmaceutical Inc. $BMRN

Rice Hall James & Associates LLC bought a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 248,224 shares of the biotechnology company’s stock, valued at approximately $14,203,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Viking Global Investors LP lifted its holdings in BioMarin Pharmaceutical by 13.8% in the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock worth $675,505,000 after buying an additional 1,488,552 shares during the period. Norges Bank purchased a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $447,572,000. AQR Capital Management LLC increased its stake in shares of 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 valued at $395,197,000 after buying an additional 754,807 shares during the period. Dimensional Fund Advisors LP raised its holdings 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 valued at $214,804,000 after acquiring an additional 481,176 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings 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 valued at $218,395,000 after acquiring an additional 131,969 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on BMRN shares. Wall Street Zen raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Piper Sandler raised their target price on BioMarin Pharmaceutical from $82.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday. Weiss Ratings lowered BioMarin Pharmaceutical from a “hold (c-)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. 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 price target on the stock. Finally, Oppenheimer upped their price target on BioMarin Pharmaceutical from $95.00 to $97.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.45.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $66.64 on Tuesday. BioMarin Pharmaceutical Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $70.98. The company has a 50 day simple moving average of $59.76 and a two-hundred day simple moving average of $57.58. The company has a market capitalization of $12.90 billion, a price-to-earnings ratio of 180.11, a P/E/G ratio of 0.47 and a beta of 0.24. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.39.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced 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. BioMarin Pharmaceutical had a return on equity of 5.32% and a net margin of 2.14%.The business had revenue of $989.71 million during the quarter, compared to analysts’ expectations of $932.03 million. During the same quarter in the previous year, the business earned $1.44 earnings per share. The firm’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. Analysts expect that BioMarin Pharmaceutical Inc. will post 4.22 EPS for the current fiscal year.

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.