BioMarin Pharmaceutical Inc. $BMRN Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management reduced its BioMarin stake by 8.3% in the second quarter, selling 158,572 shares and retaining 1.76 million shares worth approximately $100.8 million. Institutional investors and hedge funds collectively own 98.71% of BMRN.
• BioMarin exceeded second-quarter expectations, reporting $1.20 in earnings per share versus the $0.95 consensus and revenue of about $989.7 million, up 20% year over year. The company issued fiscal 2026 EPS guidance of $4.90–$5.10.
• Analyst sentiment remains generally positive, with MarketBeat reporting a “Moderate Buy” consensus and an average price target of $87.86; Morgan Stanley raised its target to $124. However, BioMarin also discontinued a $270 million rare-disease asset after it failed a Phase 3 endpoint.

Assenagon Asset Management S.A. cut its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 8.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,762,086 shares of the biotechnology company's stock after selling 158,572 shares during the quarter. Assenagon Asset Management S.A. owned about 0.91% of BioMarin Pharmaceutical worth $100,827,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth about $447,572,000. Vestal Point Capital LP lifted its holdings in BioMarin Pharmaceutical by 261.4% during the 4th quarter. Vestal Point Capital LP now owns 3,000,000 shares of the biotechnology company's stock worth $178,290,000 after buying an additional 2,170,000 shares in the last quarter. Viking Global Investors LP boosted its position in BioMarin Pharmaceutical by 13.8% in the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company's stock valued at $675,505,000 after buying an additional 1,488,552 shares during the period. Dimensional Fund Advisors LP boosted its position in BioMarin Pharmaceutical by 48.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,321,754 shares of the biotechnology company's stock valued at $197,405,000 after buying an additional 1,076,568 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of BioMarin Pharmaceutical by 3,494.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 957,011 shares of the biotechnology company's stock worth $56,875,000 after acquiring an additional 930,390 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BMRN shares. Morgan Stanley upped their target price on shares of BioMarin Pharmaceutical from $119.00 to $124.00 and gave the stock an "overweight" rating in a research note on Friday. The Goldman Sachs Group assumed coverage on shares of BioMarin Pharmaceutical in a research note on Monday, May 11th. They issued a "neutral" rating and a $69.00 price target for the company. Weiss Ratings upgraded shares of BioMarin Pharmaceutical from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, June 26th. Royal Bank Of Canada dropped their price objective on shares of BioMarin Pharmaceutical from $66.00 to $62.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 7th. Finally, UBS Group restated a "neutral" rating on shares of BioMarin Pharmaceutical in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $87.86.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $63.81 on Friday. The company has a market cap of $12.33 billion, a price-to-earnings ratio of 172.46, a price-to-earnings-growth ratio of 0.47 and a beta of 0.24. The stock has a 50 day simple moving average of $58.19 and a 200-day simple moving average of $57.06. BioMarin Pharmaceutical Inc. has a 12-month low of $49.26 and a 12-month high of $66.28. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly 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 5.36%. The business had revenue of $989.71 million for the quarter, compared to analysts' expectations of $932.03 million. During the same period in the prior year, the company posted $1.44 EPS. The business's revenue for the quarter was up 20.0% on a year-over-year basis. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. On average, equities analysts forecast that BioMarin Pharmaceutical Inc. will post 4.22 EPS for the current year.

Key Stories Impacting BioMarin Pharmaceutical

Here are the key news stories impacting BioMarin Pharmaceutical this week:

• Positive Sentiment: Q2 results exceeded expectations. BioMarin reported adjusted earnings of $1.20 per share versus the $0.95–$0.96 analyst consensus, while revenue rose 20% year over year to approximately $990 million, ahead of estimates near $932 million. BioMarin Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Management raised its 2026 outlook. Full-year adjusted EPS guidance increased to $4.90-$5.10 from a prior level below that range and above the roughly $4.80 consensus. Revenue guidance was set around $3.9 billion. Stronger-than-expected VOXZOGO sales and continued momentum in key therapies supported the revision. BioMarin Reports Second Quarter 2026 Results
• Positive Sentiment: Amicus additions could improve long-term growth. BioMarin said the addition of GALAFOLD and POMBILITI plus OPFOLDA, along with cost synergies, should accelerate revenue growth, earnings accretion, operating-margin expansion and cash flow through the mid-2030s. BioMarin Lifts 2026 Outlook
• Positive Sentiment: Morgan Stanley raised its price target to $124 from $119 and maintained an Overweight rating, signaling substantial potential upside in its valuation view.
• Neutral Sentiment: HC Wainwright increased its target to $60 from $50 but retained a Neutral rating, indicating more cautious expectations than Morgan Stanley.
• Negative Sentiment: BioMarin discontinued a $270 million rare-disease asset after the treatment missed its Phase 3 endpoint. The setback removes a potential growth opportunity and highlights clinical-development risk. BioMarin Axes Rare-Disease Asset

BioMarin Pharmaceutical 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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