Boone Capital Management LLC Acquires Shares of 583,219 BioMarin Pharmaceutical Inc. $BMRN

Boone Capital Management LLC bought a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the second quarter, HoldingsChannel reports. The firm bought 583,219 shares of the biotechnology company’s stock, valued at approximately $33,372,000. BioMarin Pharmaceutical makes up about 7.8% of Boone Capital Management LLC’s holdings, making the stock its 6th biggest holding.

Several other hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC increased its holdings in shares of BioMarin Pharmaceutical by 11.5% in the 1st quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company’s stock valued at $266,000 after acquiring an additional 388 shares during the last quarter. Empowered Funds LLC lifted its stake in BioMarin Pharmaceutical by 207.4% during the first quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock worth $850,000 after purchasing an additional 8,112 shares during the last quarter. Focus Partners Wealth lifted its stake in BioMarin Pharmaceutical by 70.2% during the first quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock worth $835,000 after purchasing an additional 4,876 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in BioMarin Pharmaceutical by 33.0% during the second quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company’s stock worth $244,000 after purchasing an additional 1,102 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in BioMarin Pharmaceutical by 23.5% in the second quarter. Invesco Ltd. now owns 618,835 shares of the biotechnology company’s stock worth $34,017,000 after purchasing an additional 117,617 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Barclays lifted their price target 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. BMO Capital Markets began coverage on shares of BioMarin Pharmaceutical in a report on Wednesday, August 19th. They issued an “outperform” rating and a $98.00 target price on the stock. HC Wainwright decreased their target price 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. Bank of America lowered their target price on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Finally, Weiss Ratings cut BioMarin Pharmaceutical from a “hold (c-)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.79.

BioMarin Pharmaceutical Trading Down 0.8%

Shares of NASDAQ:BMRN opened at $65.61 on Thursday. The company has a 50 day moving average of $61.29 and a 200-day moving average of $58.05. The company has a current ratio of 2.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.56. The firm has a market cap of $12.70 billion, a P/E ratio of 177.32, a P/E/G ratio of 0.47 and a beta of 0.24. BioMarin Pharmaceutical Inc. has a twelve month low of $49.26 and a twelve month high of $70.98.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.25. BioMarin Pharmaceutical had a return on equity of 5.32% and a net margin of 2.14%.The company had revenue of $989.71 million for the quarter, compared to the consensus estimate of $932.03 million. During the same quarter in the previous 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. As a group, analysts anticipate that BioMarin Pharmaceutical Inc. will post 4.1 earnings per share for the current fiscal 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.