Freestone Grove Partners LP Acquires New Holdings in BioMarin Pharmaceutical Inc. $BMRN

Freestone Grove Partners LP bought a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 364,194 shares of the biotechnology company’s stock, valued at approximately $20,839,000.

A number of other large investors have also added to or reduced their stakes in the stock. Caisse de depot et placement du Quebec purchased a new stake in BioMarin Pharmaceutical during the 2nd quarter valued at $70,749,000. Trails Edge Capital Partners LP bought a new stake in shares of BioMarin Pharmaceutical in the second quarter worth $29,296,640,000. Elmind Capital LP bought a new stake in shares of BioMarin Pharmaceutical in the second quarter worth $2,689,340,000. ADAR1 Capital Management LLC purchased a new stake in BioMarin Pharmaceutical during the second quarter valued at $2,804,000. Finally, Hsbc Holdings PLC purchased a new stake in BioMarin Pharmaceutical during the second quarter valued at $17,640,000. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

NASDAQ BMRN opened at $65.29 on Friday. BioMarin Pharmaceutical Inc. has a 12 month low of $49.26 and a 12 month high of $70.98. The stock has a market cap of $12.64 billion, a price-to-earnings ratio of 176.46, a PEG ratio of 0.47 and a beta of 0.24. The company’s 50 day moving average is $61.50 and its two-hundred day moving average is $58.10. 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 announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $932.03 million. BioMarin Pharmaceutical had a net margin of 2.14% and a return on equity of 5.32%. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.44 earnings per share. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. As a group, research analysts anticipate that BioMarin Pharmaceutical Inc. will post 4.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Morgan Stanley increased their target price on BioMarin Pharmaceutical from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Citigroup upped their price target on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Piper Sandler increased 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. Bank of America dropped their price objective on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Finally, Royal Bank Of Canada reduced their target price on shares of BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating for the company in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.79.

BioMarin Pharmaceutical 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.