Grandfield & Dodd LLC Makes New $1.04 Million Investment in BioMarin Pharmaceutical Inc. $BMRN

Grandfield & Dodd LLC bought a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 18,243 shares of the biotechnology company’s stock, valued at approximately $1,044,000.

Other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC grew its stake in BioMarin Pharmaceutical by 11.5% during the first 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 in the last quarter. Empowered Funds LLC increased 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 acquiring an additional 8,112 shares during the last quarter. Focus Partners Wealth increased its position in shares of BioMarin Pharmaceutical by 70.2% during the 1st quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock valued at $835,000 after purchasing an additional 4,876 shares during the last quarter. Sivia Capital Partners LLC increased its position 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 valued at $244,000 after acquiring an additional 1,102 shares during the last quarter. Finally, Invesco Ltd. raised its position in BioMarin Pharmaceutical by 23.5% in the 2nd 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. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $66.64 on Tuesday. The stock has a 50-day simple moving average of $59.76 and a two-hundred day simple moving average of $57.58. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.39. The firm has a market capitalization of $12.90 billion, a P/E ratio of 180.11, a PEG ratio of 0.47 and a beta of 0.24. BioMarin Pharmaceutical Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $70.98.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $932.03 million. During the same period in the previous year, the company posted $1.44 earnings per share. BioMarin Pharmaceutical’s revenue for the quarter was up 20.0% on a year-over-year basis. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. On average, equities analysts forecast that BioMarin Pharmaceutical Inc. will post 4.22 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Morgan Stanley increased their target price on BioMarin Pharmaceutical from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Bank of America cut their price objective 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 boosted their target price 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. HC Wainwright upped their price target on BioMarin Pharmaceutical from $50.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Finally, Canaccord Genuity Group upped their price objective on shares of BioMarin Pharmaceutical from $111.00 to $114.00 and gave the company a “buy” rating in a report 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 issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.45.

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.