Van ECK Associates Corp Buys 125,221 Shares of BioMarin Pharmaceutical Inc. $BMRN

Van ECK Associates Corp raised its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 68.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 307,103 shares of the biotechnology company’s stock after buying an additional 125,221 shares during the period. Van ECK Associates Corp’s holdings in BioMarin Pharmaceutical were worth $17,572,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of BioMarin Pharmaceutical during the second quarter worth about $39,000. CIBC Private Wealth Group LLC boosted its holdings 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 valued at $39,000 after acquiring an additional 179 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in BioMarin Pharmaceutical in the third quarter valued at approximately $40,000. Parallel Advisors LLC increased its position in BioMarin Pharmaceutical by 62.2% during 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 period. Finally, Keating Financial Advisory Services Inc. bought a new position in BioMarin Pharmaceutical during the 2nd quarter worth approximately $56,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. 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 report on Monday, August 17th. BMO Capital Markets began coverage on shares of BioMarin Pharmaceutical in a research report on Wednesday, August 19th. They set an “outperform” rating and a $98.00 price objective for the company. Wall Street Zen raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. UBS Group set a $88.00 target price on shares of BioMarin Pharmaceutical in a report on Wednesday. Finally, Weiss Ratings cut shares of BioMarin Pharmaceutical from a “hold (c-)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Two 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $88.79.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $64.67 on Monday. The stock has a market capitalization of $12.52 billion, a price-to-earnings ratio of 174.78, a PEG ratio of 0.46 and a beta of 0.24. BioMarin Pharmaceutical Inc. has a 52-week low of $49.26 and a 52-week high of $70.98. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.39. The stock’s 50 day moving average price is $61.70 and its two-hundred day moving average price is $58.15.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data 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 company had revenue of $989.71 million during the quarter, compared to analyst estimates of $932.03 million. During the same quarter in the previous year, the business posted $1.44 EPS. BioMarin Pharmaceutical’s revenue for the quarter 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. On average, equities analysts predict 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.