47,000 Shares in BioMarin Pharmaceutical Inc. $BMRN Bought by Elmind Capital LP

Elmind Capital LP purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the second quarter, HoldingsChannel reports. The fund purchased 47,000 shares of the biotechnology company’s stock, valued at approximately $2,689,340,000. BioMarin Pharmaceutical comprises 0.7% of Elmind Capital LP’s portfolio, making the stock its 26th biggest holding.

Several other large investors have also added to or reduced their stakes in the company. Primecap Management Co. CA acquired a new position in BioMarin Pharmaceutical in the 2nd quarter worth approximately $811,962,000. Norges Bank acquired a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth $447,572,000. Vestal Point Capital LP raised its holdings in shares of BioMarin Pharmaceutical by 261.4% during the fourth quarter. Vestal Point Capital LP now owns 3,000,000 shares of the biotechnology company’s stock worth $178,290,000 after purchasing an additional 2,170,000 shares during the last quarter. Viking Global Investors LP lifted its position in 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 purchasing an additional 1,488,552 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in BioMarin Pharmaceutical in the second quarter valued at $66,107,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on BMRN shares. BMO Capital Markets began coverage on BioMarin Pharmaceutical in a research note on Wednesday, August 19th. They set an “outperform” rating and a $98.00 price objective for the company. Canaccord Genuity Group boosted their price target on BioMarin Pharmaceutical from $111.00 to $114.00 and gave the company a “buy” rating in a report on Monday, August 10th. HC Wainwright cut their target price on shares of BioMarin Pharmaceutical from $60.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday, August 18th. Bank of America decreased their target price on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Finally, Oppenheimer raised their target price on BioMarin Pharmaceutical from $95.00 to $97.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $88.83.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $66.12 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 2.39 and a debt-to-equity ratio of 0.56. The company has a market cap of $12.80 billion, a price-to-earnings ratio of 178.70, a PEG ratio of 0.47 and a beta of 0.24. BioMarin Pharmaceutical Inc. has a 52-week low of $49.26 and a 52-week high of $70.98. The firm’s fifty day simple moving average is $61.07 and its two-hundred day simple moving average is $57.99.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results 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. The firm had revenue of $989.71 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm 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 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.