State of Wyoming Makes New $571,000 Investment in BioMarin Pharmaceutical Inc. $BMRN

State of Wyoming purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 9,980 shares of the biotechnology company’s stock, valued at approximately $571,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Activest Wealth Management bought a new stake in BioMarin Pharmaceutical in the fourth quarter worth $26,000. CIBC Private Wealth Group LLC lifted its position in shares of BioMarin Pharmaceutical by 38.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after buying an additional 179 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter worth about $40,000. Parallel Advisors LLC boosted its stake in shares of 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 acquiring an additional 295 shares in the last quarter. Finally, Wick Capital Partners LLC bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth about $73,000. Institutional investors own 98.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Morgan Stanley raised their price objective on BioMarin Pharmaceutical from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Wall Street Zen raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. The Goldman Sachs Group began coverage on BioMarin Pharmaceutical in a report on Monday, May 11th. They set a “neutral” rating and a $69.00 price target on the stock. Citigroup lifted their price target on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Finally, HC Wainwright increased their target price on BioMarin Pharmaceutical from $50.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has issued 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 $88.00.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $67.36 on Monday. The firm has a market capitalization of $13.04 billion, a PE ratio of 182.05, a PEG ratio of 0.47 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 business’s 50 day moving average is $59.56 and its 200-day moving average is $57.51.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its 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. 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 during the quarter, compared to analysts’ expectations of $932.03 million. During the same period last year, the business earned $1.44 earnings per share. BioMarin Pharmaceutical’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. Sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 4.22 earnings per share for the current year.

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.