BioMarin Pharmaceutical Inc. $BMRN Stock Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al cut its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 20.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,120 shares of the biotechnology company’s stock after selling 18,200 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in BioMarin Pharmaceutical were worth $4,267,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BMRN. Parkside Financial Bank & Trust increased its holdings in BioMarin Pharmaceutical by 70.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 453 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 187 shares during the last quarter. North Dakota State Investment Board boosted its stake in shares of BioMarin Pharmaceutical by 3.9% during the 3rd quarter. North Dakota State Investment Board now owns 5,872 shares of the biotechnology company’s stock valued at $352,000 after buying an additional 218 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of BioMarin Pharmaceutical by 2.4% during the 1st 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. Signaturefd LLC grew its position in shares of BioMarin Pharmaceutical by 16.7% during the third quarter. Signaturefd LLC now owns 2,316 shares of the biotechnology company’s stock worth $139,000 after buying an additional 331 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of BioMarin Pharmaceutical by 33.9% in the first quarter. Parallel Advisors LLC now owns 1,768 shares of the biotechnology company’s stock worth $100,000 after buying an additional 448 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ BMRN opened at $58.51 on Monday. 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 firm’s 50-day moving average price is $60.62 and its two-hundred day moving average price is $58.44. BioMarin Pharmaceutical Inc. has a 52-week low of $49.26 and a 52-week high of $70.98. The stock has a market capitalization of $11.33 billion, a P/E ratio of 158.14, a P/E/G ratio of 0.64 and a beta of 0.21.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, August 6th. The biotechnology company reported $1.20 EPS 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 during the quarter, compared to analyst estimates of $932.03 million. During the same period in the prior year, the company earned $1.44 earnings per share. The business’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. As a group, sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 2.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BMRN shares. Piper Sandler upped their price target on shares of BioMarin Pharmaceutical from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, September 1st. Morgan Stanley dropped their target price on shares of BioMarin Pharmaceutical from $124.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, October 21st. Oppenheimer upped their target price on shares of BioMarin Pharmaceutical from $95.00 to $97.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Raymond James Financial raised shares of BioMarin Pharmaceutical from an “outperform” rating to a “strong-buy” rating and set a $109.00 price target on the stock in a research report on Monday, October 12th. Finally, JPMorgan Chase & Co. lifted their price target on BioMarin Pharmaceutical from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 20th. Three 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.38.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biotechnology company focused on developing and commercializing therapies for serious and life-threatening rare diseases. The company’s research and development efforts center on genetic and metabolic disorders, where patient populations are often small and treatment options are limited.

BioMarin’s marketed products include Voxzogo (vosoritide) for children with achondroplasia and open growth plates, Palynziq (pegvaliase) and Kuvan (sapropterin dihydrochloride) for phenylketonuria, Brineura (cerliponase alfa) for late-infantile neuronal ceroid lipofuscinosis type 2, Vimizim (elosulfase alfa) for Morquio A syndrome, and Naglazyme (galsulfase) for mucopolysaccharidosis VI.