35,863 Shares in BioMarin Pharmaceutical Inc. $BMRN Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. purchased a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 35,863 shares of the biotechnology company’s stock, valued at approximately $2,052,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Activest Wealth Management acquired a new stake in BioMarin Pharmaceutical in the 4th quarter valued at $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of BioMarin Pharmaceutical during the second quarter valued at $39,000. CIBC Private Wealth Group LLC boosted its stake 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 purchasing an additional 179 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at $40,000. Finally, Parallel Advisors LLC boosted its stake in shares of BioMarin Pharmaceutical by 62.2% in the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 295 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BMRN. Royal Bank Of Canada dropped their target price 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. HC Wainwright decreased their price objective on shares of BioMarin Pharmaceutical from $60.00 to $59.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 18th. BMO Capital Markets initiated coverage on shares of BioMarin Pharmaceutical in a report on Wednesday, August 19th. They set an “outperform” rating and a $98.00 price objective for the company. Citigroup lifted their target price on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Finally, Morgan Stanley increased their price target on BioMarin Pharmaceutical from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $88.83.

BioMarin Pharmaceutical Trading Down 2.4%

BMRN opened at $65.07 on Tuesday. 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 stock has a market capitalization of $12.60 billion, a PE ratio of 175.86, a PEG ratio of 0.48 and a beta of 0.24. BioMarin Pharmaceutical Inc. has a 1-year low of $49.26 and a 1-year high of $70.98. The firm has a 50-day moving average price of $60.85 and a two-hundred day moving average price of $57.93.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.25. BioMarin Pharmaceutical had a net margin of 2.14% and a return on equity of 5.32%. The company had revenue of $989.71 million during the quarter, compared to the consensus estimate of $932.03 million. During the same period in the previous year, the firm posted $1.44 earnings per share. The company’s revenue was up 20.0% on a year-over-year basis. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. As a group, equities analysts anticipate 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.