Trails Edge Capital Partners LP Buys Shares of 512,000 BioMarin Pharmaceutical Inc. $BMRN

Trails Edge Capital Partners LP acquired a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 2nd quarter, HoldingsChannel reports. The firm acquired 512,000 shares of the biotechnology company’s stock, valued at approximately $29,296,640,000. BioMarin Pharmaceutical accounts for about 4.7% of Trails Edge Capital Partners LP’s investment portfolio, making the stock its 6th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Activest Wealth Management purchased a new position in BioMarin Pharmaceutical in the 4th quarter valued at approximately $26,000. CIBC Private Wealth Group LLC lifted its position in shares of BioMarin Pharmaceutical by 38.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 179 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of BioMarin Pharmaceutical during the second quarter worth $39,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of BioMarin Pharmaceutical during the third quarter worth $40,000. Finally, Parallel Advisors LLC boosted its holdings 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 acquiring an additional 295 shares during the period. 98.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on BMRN. Canaccord Genuity Group lifted their target price on BioMarin Pharmaceutical from $111.00 to $114.00 and gave the company a “buy” rating in a report on Monday, August 10th. 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 target on the stock. Royal Bank Of Canada cut their price objective on shares of BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 7th. Bank of America reduced their price objective on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Finally, Oppenheimer upped their target price 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. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.83.

BioMarin Pharmaceutical Trading Up 1.6%

BMRN stock opened at $66.12 on Wednesday. The company has a market capitalization of $12.80 billion, a PE ratio of 178.70, a price-to-earnings-growth ratio of 0.47 and a beta of 0.24. 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 company’s 50 day moving average price is $61.07 and its two-hundred day moving average price is $57.99.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.25. The business had revenue of $989.71 million for the quarter, compared to analyst estimates of $932.03 million. BioMarin Pharmaceutical had a return on equity of 5.32% and a net margin of 2.14%.BioMarin Pharmaceutical’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period last year, the company earned $1.44 EPS. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. As a group, analysts predict that BioMarin Pharmaceutical Inc. will post 4.1 earnings per share for the current fiscal year.

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.