Elmind Capital LP Invests $2.69 Million in BioMarin Pharmaceutical Inc. $BMRN

Elmind Capital LP purchased a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 47,000 shares of the biotechnology company’s stock, valued at approximately $2,689,340. BioMarin Pharmaceutical comprises approximately 0.0% of Elmind Capital LP’s portfolio, making the stock its 26th biggest holding.

Several other institutional investors also recently made changes to their positions in the stock. Activest Wealth Management purchased a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at $39,000. CIBC Private Wealth Group LLC grew its holdings 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 valued at $39,000 after buying an additional 179 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of BioMarin Pharmaceutical in the 3rd quarter valued at about $40,000. Finally, Parallel Advisors LLC increased its position in shares of BioMarin Pharmaceutical by 62.2% in the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 295 shares during the period. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock traded down $0.74 on Friday, reaching $64.55. 851,666 shares of the stock were exchanged, compared to its average volume of 2,066,421. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.39. BioMarin Pharmaceutical Inc. has a one year low of $49.26 and a one year high of $70.98. The firm’s 50 day moving average is $61.50 and its 200-day moving average is $58.10. The firm has a market cap of $12.49 billion, a PE ratio of 174.46, a P/E/G ratio of 0.47 and a beta of 0.24.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share 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 analysts’ expectations of $932.03 million. During the same period in the previous year, the business earned $1.44 earnings per share. The firm’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. As a group, analysts anticipate that BioMarin Pharmaceutical Inc. will post 4.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BMRN shares. UBS Group set a $88.00 price target on BioMarin Pharmaceutical in a report on Wednesday. Morgan Stanley raised their price target on shares of BioMarin Pharmaceutical from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Oppenheimer raised their price target on shares of BioMarin Pharmaceutical from $95.00 to $97.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. BMO Capital Markets assumed coverage on shares of BioMarin Pharmaceutical in a research note on Wednesday, August 19th. They issued an “outperform” rating and a $98.00 price objective on the stock. Finally, Canaccord Genuity Group upped their target price on BioMarin Pharmaceutical from $111.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.79.

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.