Canada Pension Plan Investment Board Buys New Shares in BioMarin Pharmaceutical Inc. $BMRN

Canada Pension Plan Investment Board bought a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 224,900 shares of the biotechnology company’s stock, valued at approximately $12,869,000.

Several other large investors have also added to or reduced their stakes in the company. Activest Wealth Management acquired a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of BioMarin Pharmaceutical during the second quarter worth about $39,000. CIBC Private Wealth Group LLC boosted its position 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 buying an additional 179 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in BioMarin Pharmaceutical in the 3rd quarter worth approximately $40,000. Finally, Parallel Advisors LLC raised 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 worth $42,000 after buying an additional 295 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on BMRN. Barclays upped their price objective on shares of BioMarin Pharmaceutical from $105.00 to $111.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Morgan Stanley raised their target price on shares of BioMarin Pharmaceutical from $119.00 to $124.00 and gave the stock 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 report on Thursday, July 16th. Sanford C. Bernstein cut their price target on BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. Finally, HC Wainwright reduced their price objective on BioMarin Pharmaceutical from $60.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday, August 18th. 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.79.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $64.67 on Friday. 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 firm has a fifty day moving average of $61.70 and a 200 day moving average of $58.15. The firm 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. BioMarin Pharmaceutical Inc. has a one year low of $49.26 and a one year high of $70.98.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.25. The business had revenue of $989.71 million for the quarter, compared to analyst estimates 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 quarter last year, the business earned $1.44 earnings per share. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. As a group, research analysts predict that BioMarin Pharmaceutical Inc. will post 4.1 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.