Meiji Yasuda Asset Management Co Ltd. Invests $445,000 in BioMarin Pharmaceutical Inc. $BMRN

Meiji Yasuda Asset Management Co Ltd. acquired a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,780 shares of the biotechnology company’s stock, valued at approximately $445,000.

A number of other large investors also recently modified their holdings of BMRN. Activest Wealth Management purchased a new position in BioMarin Pharmaceutical in the fourth quarter valued at $26,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in BioMarin Pharmaceutical during the 2nd quarter worth about $39,000. CIBC Private Wealth Group LLC boosted its position in shares of BioMarin Pharmaceutical by 38.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 179 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth about $40,000. Finally, Parallel Advisors LLC increased its holdings in shares of BioMarin Pharmaceutical by 62.2% in the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 295 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Weiss Ratings lowered shares of BioMarin Pharmaceutical from a “hold (c-)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Citigroup upped their target price on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Piper Sandler boosted their price target on shares of BioMarin Pharmaceutical from $82.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, August 17th. HC Wainwright cut their price target on BioMarin Pharmaceutical from $60.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 18th. Finally, Canaccord Genuity Group lifted their price objective on shares of BioMarin Pharmaceutical from $111.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Two research analysts have 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.83.

BioMarin Pharmaceutical Stock Up 1.6%

BMRN stock opened at $66.12 on Wednesday. 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 company’s 50-day moving average price is $61.07 and its 200 day moving average price is $57.99. BioMarin Pharmaceutical Inc. has a 52 week low of $49.26 and a 52 week high of $70.98. The company has a market cap of $12.80 billion, a P/E ratio of 178.70, a P/E/G ratio of 0.47 and a beta of 0.24.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, beating 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 company had revenue of $989.71 million for the quarter, compared to analyst estimates of $932.03 million. During the same quarter in the prior year, the company earned $1.44 earnings per share. BioMarin Pharmaceutical’s 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. On average, research analysts expect 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.