Legal & General Group Plc Takes Position in BioMarin Pharmaceutical Inc. $BMRN

Legal & General Group Plc purchased a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 537,468 shares of the biotechnology company’s stock, valued at approximately $30,754,000. Legal & General Group Plc owned about 0.28% of BioMarin Pharmaceutical at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BMRN. Activest Wealth Management acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in BioMarin Pharmaceutical during the second quarter worth approximately $39,000. CIBC Private Wealth Group LLC boosted its stake in BioMarin Pharmaceutical by 38.2% during 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 acquired a new position in BioMarin Pharmaceutical during the third quarter worth $40,000. Finally, Parallel Advisors LLC grew its holdings in 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 buying an additional 295 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Down 0.9%

Shares of NASDAQ BMRN opened at $64.67 on Friday. 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 business’s 50 day moving average is $61.70 and its two-hundred day moving average is $58.15. BioMarin Pharmaceutical Inc. has a 52-week low of $49.26 and a 52-week high of $70.98. The firm has a market cap of $12.52 billion, a price-to-earnings ratio of 174.78, a PEG ratio of 0.47 and a beta of 0.24.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly 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 business had revenue of $989.71 million during the quarter, compared to analyst estimates of $932.03 million. During the same period last year, the business posted $1.44 earnings per share. The company’s quarterly revenue was up 20.0% on a year-over-year basis. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. Research analysts predict that BioMarin Pharmaceutical Inc. will post 4.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Citigroup lifted their price target on BioMarin Pharmaceutical from $75.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. UBS Group set a $88.00 price objective on shares of BioMarin Pharmaceutical in a research report on Wednesday. Piper Sandler lifted their target price on shares of BioMarin Pharmaceutical from $82.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. Barclays increased their price target on shares of BioMarin Pharmaceutical from $105.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. Finally, Oppenheimer lifted their price target on shares of BioMarin Pharmaceutical from $95.00 to $97.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.79.

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.