Squarepoint Ops LLC Reduces Stock Holdings in BioMarin Pharmaceutical Inc. $BMRN

Squarepoint Ops LLC reduced its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 70.5% in the second quarter, HoldingsChannel reports. The firm owned 105,968 shares of the biotechnology company’s stock after selling 253,734 shares during the quarter. Squarepoint Ops LLC’s holdings in BioMarin Pharmaceutical were worth $6,063,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BMRN. CIBC Private Wealth Group LLC lifted its stake in shares of BioMarin Pharmaceutical by 38.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 179 shares during the period. Northwestern Mutual Investment Management Company LLC grew its position in BioMarin Pharmaceutical by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 42,982 shares of the biotechnology company’s stock valued at $2,554,000 after buying an additional 183 shares during the period. Parkside Financial Bank & Trust grew its position in BioMarin Pharmaceutical by 70.3% during the second quarter. Parkside Financial Bank & Trust now owns 453 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 187 shares during the period. Caerus Investment Advisors LLC increased its holdings in BioMarin Pharmaceutical by 2.8% during the fourth quarter. Caerus Investment Advisors LLC now owns 10,236 shares of the biotechnology company’s stock valued at $608,000 after buying an additional 278 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its holdings in BioMarin Pharmaceutical by 2.4% during the first quarter. Chicago Partners Investment Group LLC now owns 12,183 shares of the biotechnology company’s stock valued at $660,000 after buying an additional 290 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ BMRN opened at $65.68 on Friday. The stock has a market cap of $12.71 billion, a PE ratio of 177.51, a price-to-earnings-growth ratio of 0.47 and a beta of 0.24. BioMarin Pharmaceutical Inc. has a 1 year low of $49.26 and a 1 year high of $70.98. The firm has a fifty day moving average price of $63.30 and a 200-day moving average price of $58.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.39 and a quick ratio of 1.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.25. BioMarin Pharmaceutical had a net margin of 2.14% and a return on equity of 5.32%. The company had revenue of $989.71 million during the quarter, compared to the consensus estimate of $932.03 million. During the same quarter in the prior year, the firm posted $1.44 EPS. BioMarin Pharmaceutical’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. Equities analysts anticipate that BioMarin Pharmaceutical Inc. will post 4.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on BMRN shares. Morgan Stanley lifted their price target on shares of 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 reduced their price objective on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. UBS Group set a $88.00 target price on BioMarin Pharmaceutical in a report on Wednesday, August 26th. Weiss Ratings upgraded BioMarin Pharmaceutical from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, September 3rd. Finally, Royal Bank Of Canada cut their price target on BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating for the company in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $89.17.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc is a biotechnology company focused on developing and commercializing therapies for rare and serious diseases. Founded in 1997 and headquartered in San Rafael, California, the company specializes in treatments for conditions that often have limited or no available therapeutic options, including inherited metabolic disorders, skeletal diseases, and certain bleeding disorders.

BioMarin’s marketed products include Vimizim for mucopolysaccharidosis type IV A, Naglazyme for mucopolysaccharidosis type VI, Brineura for late-infantile neuronal ceroid lipofuscinosis type 2, Palynziq and Kuvan for phenylketonuria, and Voxzogo for achondroplasia in children with open growth plates.