Legal & General Group Plc Makes New $30.75 Million Investment in BioMarin Pharmaceutical Inc. $BMRN

Legal & General Group Plc acquired a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 537,468 shares of the biotechnology company’s stock, valued at approximately $30,754,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC raised its position in BioMarin Pharmaceutical by 11.5% in the 1st quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company’s stock valued at $266,000 after purchasing an additional 388 shares in the last quarter. Empowered Funds LLC grew its position in shares of BioMarin Pharmaceutical by 207.4% during the first quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock worth $850,000 after buying an additional 8,112 shares in the last quarter. Focus Partners Wealth increased its stake in shares of BioMarin Pharmaceutical by 70.2% during the first quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock worth $835,000 after buying an additional 4,876 shares during the period. Sivia Capital Partners LLC increased its stake in shares of BioMarin Pharmaceutical by 33.0% during the second quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company’s stock worth $244,000 after buying an additional 1,102 shares during the period. Finally, Invesco Ltd. raised its holdings in BioMarin Pharmaceutical by 23.5% in the second quarter. Invesco Ltd. now owns 618,835 shares of the biotechnology company’s stock valued at $34,017,000 after acquiring an additional 117,617 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Down 0.9%

Shares of NASDAQ BMRN opened at $64.67 on Friday. The business has a 50-day moving average price of $61.70 and a 200 day moving average price of $58.15. The stock has a market cap of $12.52 billion, a PE ratio of 174.78, a price-to-earnings-growth ratio of 0.47 and a beta of 0.24. The company has a quick ratio of 1.32, a current ratio of 2.39 and a debt-to-equity ratio of 0.56. BioMarin Pharmaceutical Inc. has a 52-week low of $49.26 and a 52-week high of $70.98.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.25. The company had revenue of $989.71 million during the quarter, compared to analysts’ expectations of $932.03 million. BioMarin Pharmaceutical had a return on equity of 5.32% and a net margin of 2.14%.The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.44 earnings per share. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. Equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 4.1 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on the stock. UBS Group set a $88.00 price target on shares of BioMarin Pharmaceutical in a report on Wednesday. The Goldman Sachs Group initiated coverage on shares of BioMarin Pharmaceutical in a report on Monday, May 11th. They issued a “neutral” rating and a $69.00 price objective on the stock. BMO Capital Markets assumed coverage on shares of BioMarin Pharmaceutical in a research note on Wednesday, August 19th. They set an “outperform” rating and a $98.00 target price for the company. Weiss Ratings lowered BioMarin Pharmaceutical from a “hold (c-)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Finally, Citigroup raised their price target on BioMarin Pharmaceutical from $75.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.79.

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.