Rice Hall James & Associates LLC Makes New Investment in BioMarin Pharmaceutical Inc. $BMRN

Rice Hall James & Associates LLC bought a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 248,224 shares of the biotechnology company’s stock, valued at approximately $14,203,000. Rice Hall James & Associates LLC owned about 0.13% of BioMarin Pharmaceutical at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Viking Global Investors LP increased its position in shares of BioMarin Pharmaceutical by 13.8% during the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock valued at $675,505,000 after acquiring an additional 1,488,552 shares during the last quarter. Norges Bank purchased a new position in BioMarin Pharmaceutical in the fourth quarter worth $447,572,000. AQR Capital Management LLC boosted its position in BioMarin Pharmaceutical by 12.7% in the fourth quarter. AQR Capital Management LLC now owns 6,686,916 shares of the biotechnology company’s stock worth $395,197,000 after purchasing an additional 754,807 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in BioMarin Pharmaceutical by 14.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,802,930 shares of the biotechnology company’s stock valued at $214,804,000 after purchasing an additional 481,176 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of BioMarin Pharmaceutical by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,674,089 shares of the biotechnology company’s stock valued at $218,395,000 after purchasing an additional 131,969 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Bank of America cut their price target 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. Oppenheimer lifted their price target on shares of BioMarin Pharmaceutical from $95.00 to $97.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Barclays upped their price objective on BioMarin Pharmaceutical from $105.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday. UBS Group reissued a “neutral” rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, July 14th. Finally, Canaccord Genuity Group boosted their target price on BioMarin Pharmaceutical from $111.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.45.

BioMarin Pharmaceutical Trading Down 1.1%

NASDAQ:BMRN opened at $66.64 on Tuesday. BioMarin Pharmaceutical Inc. has a 1 year low of $49.26 and a 1 year high of $70.98. The stock’s fifty day moving average price is $59.76 and its two-hundred day moving average price is $57.58. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.39 and a quick ratio of 1.32. The company has a market cap of $12.90 billion, a P/E ratio of 180.11, a P/E/G ratio of 0.47 and a beta of 0.24.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued 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 business had revenue of $989.71 million for the quarter, compared to analysts’ expectations of $932.03 million. BioMarin Pharmaceutical had a return on equity of 5.32% and a net margin of 2.14%.The firm’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.44 EPS. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. As a group, analysts expect that BioMarin Pharmaceutical Inc. will post 4.22 EPS for the current year.

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.