VIRGINIA RETIREMENT SYSTEMS ET Al Sells 18,200 Shares of BioMarin Pharmaceutical Inc. $BMRN

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 20.4% during the 3rd quarter, according to the company in its most recent Form 13F filing 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 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Primecap Management Co. CA bought a new position in BioMarin Pharmaceutical during the second quarter valued at about $811,962,000. Dimensional Fund Advisors LP raised its position in BioMarin Pharmaceutical by 14.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,802,930 shares of the biotechnology company’s stock worth $214,804,000 after acquiring an additional 481,176 shares in the last quarter. First Trust Advisors LP raised its position in BioMarin Pharmaceutical by 43.3% in the first quarter. First Trust Advisors LP now owns 1,672,491 shares of the biotechnology company’s stock worth $94,479,000 after acquiring an additional 505,692 shares in the last quarter. Caisse de depot et placement du Quebec acquired a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at about $70,749,000. Finally, Bank of New York Mellon Corp acquired a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at about $66,107,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays raised their target price on shares of BioMarin Pharmaceutical from $111.00 to $114.00 and gave the stock an “overweight” rating in a report on Wednesday, October 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $86.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, October 20th. Weiss Ratings downgraded BioMarin Pharmaceutical from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 18th. Raymond James Financial raised BioMarin Pharmaceutical from an “outperform” rating to a “strong-buy” rating and set a $109.00 price objective for the company in a research note on Monday, October 12th. Finally, William Blair upgraded BioMarin Pharmaceutical to a “hold” rating in a report on Wednesday, September 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.38.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $58.51 on Monday. BioMarin Pharmaceutical Inc. has a 1-year low of $49.26 and a 1-year high of $70.98. The company has a current ratio of 2.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $11.33 billion, a price-to-earnings ratio of 158.14, a P/E/G ratio of 0.64 and a beta of 0.21. The stock’s fifty day simple moving average is $60.62 and its 200-day simple moving average is $58.44.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted 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. The firm 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 quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.44 earnings per share. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. On average, sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 2.59 earnings per share for the current fiscal year.

BioMarin Pharmaceutical Profile

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.