Primecap Management Co. CA Makes New Investment in BioMarin Pharmaceutical Inc. $BMRN

Primecap Management Co. CA purchased a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 14,190,183 shares of the biotechnology company’s stock, valued at approximately $811,962,000. Primecap Management Co. CA owned about 0.07% of BioMarin Pharmaceutical at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Rice Hall James & Associates LLC acquired a new position in BioMarin Pharmaceutical during the second quarter worth approximately $14,203,000. Swedbank AB lifted its position in shares of BioMarin Pharmaceutical by 70.6% in the fourth quarter. Swedbank AB now owns 796,737 shares of the biotechnology company’s stock valued at $47,350,000 after buying an additional 329,794 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $39,312,000. GSA Capital Partners LLP acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $944,000. Finally, LSV Asset Management boosted its stake in shares of BioMarin Pharmaceutical by 4.3% during the 4th quarter. LSV Asset Management now owns 882,200 shares of the biotechnology company’s stock worth $52,429,000 after acquiring an additional 36,700 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $66.12 on Wednesday. The stock has a 50 day simple moving average of $61.07 and a 200 day simple moving average of $57.99. The stock has a market cap of $12.80 billion, a P/E ratio of 178.70, a PEG ratio of 0.47 and a beta of 0.24. BioMarin Pharmaceutical Inc. has a 1-year low of $49.26 and a 1-year high of $70.98. 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 posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.25. BioMarin Pharmaceutical had a return on equity of 5.32% and a net margin of 2.14%.The firm had revenue of $989.71 million for the quarter, compared to analysts’ expectations of $932.03 million. During the same quarter last year, the business earned $1.44 EPS. The company’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. Research analysts anticipate that BioMarin Pharmaceutical Inc. will post 4.1 earnings per share for the current year.

Analyst Ratings Changes

BMRN has been the topic of a number of recent analyst reports. Morgan Stanley boosted their target price on BioMarin Pharmaceutical from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. 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. Sanford C. Bernstein decreased their price objective on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Weiss Ratings lowered shares of BioMarin Pharmaceutical from a “hold (c-)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Finally, Piper Sandler raised their target price 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. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.

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.