Empowered Funds LLC Purchases New Stake in BioMarin Pharmaceutical Inc. $BMRN

Empowered Funds LLC acquired a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the second quarter, HoldingsChannel.com reports. The firm acquired 39,267 shares of the biotechnology company’s stock, valued at approximately $2,247,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC grew its holdings in BioMarin Pharmaceutical by 38.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 179 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth $39,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth $40,000. Parallel Advisors LLC boosted its position 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 valued at $42,000 after acquiring an additional 295 shares during the last quarter. Finally, Keating Financial Advisory Services Inc. purchased a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at about $56,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Up 3.3%

Shares of BMRN stock opened at $66.97 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.39 and a quick ratio of 1.32. The firm has a market cap of $12.96 billion, a PE ratio of 181.00, a price-to-earnings-growth ratio of 0.46 and a beta of 0.24. The company has a 50-day moving average of $62.24 and a two-hundred day moving average of $58.27. BioMarin Pharmaceutical Inc. has a 1-year low of $49.26 and a 1-year high of $70.98.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released 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 net margin of 2.14% and a return on equity of 5.32%. The business had revenue of $989.71 million for the quarter, compared to the consensus estimate of $932.03 million. During the same period in the previous year, the firm earned $1.44 EPS. The business’s 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. On average, analysts predict that BioMarin Pharmaceutical Inc. will post 4.11 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on BMRN. Citigroup raised their price objective on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. UBS Group set a $88.00 price target on shares of BioMarin Pharmaceutical in a report on Wednesday, August 26th. Morgan Stanley lifted their price target on shares of BioMarin Pharmaceutical from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Oppenheimer upped their price objective on BioMarin Pharmaceutical from $95.00 to $97.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Finally, Weiss Ratings lowered BioMarin Pharmaceutical from a “hold (c-)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.17.

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.