141,317 Shares in BioMarin Pharmaceutical Inc. $BMRN Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 141,317 shares of the biotechnology company’s stock, valued at approximately $8,086,000.

Other hedge funds also recently bought and sold shares of the company. CIBC Private Wealth Group LLC increased its position in shares of BioMarin Pharmaceutical by 38.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 179 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in BioMarin Pharmaceutical in the second quarter worth $39,000. Caitong International Asset Management Co. Ltd acquired a new stake in BioMarin Pharmaceutical during the third quarter worth $40,000. Parallel Advisors LLC increased its holdings in 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 buying an additional 295 shares during the period. Finally, Keating Financial Advisory Services Inc. bought a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at $56,000. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $64.67 on Monday. The company has a market cap of $12.52 billion, a PE ratio of 174.78, a PEG ratio of 0.46 and a beta of 0.24. 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 Inc. has a 1 year low of $49.26 and a 1 year high of $70.98. The company’s 50-day moving average is $61.70 and its two-hundred day moving average is $58.15.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, topping the consensus estimate of $0.95 by $0.25. The company 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%. BioMarin Pharmaceutical’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.44 EPS. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. Equities analysts anticipate that BioMarin Pharmaceutical Inc. will post 4.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Royal Bank Of Canada dropped their price target on shares of BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 7th. BMO Capital Markets initiated coverage on BioMarin Pharmaceutical in a research report on Wednesday, August 19th. They set an “outperform” rating and a $98.00 target price for the company. Morgan Stanley upped their price target on BioMarin Pharmaceutical from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Piper Sandler lifted their price objective on BioMarin Pharmaceutical from $82.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Finally, Wall Street Zen raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $88.79.

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.