Northwestern Mutual Wealth Management Co. Acquires New Holdings in BioMarin Pharmaceutical Inc. $BMRN

Northwestern Mutual Wealth Management Co. bought a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 35,863 shares of the biotechnology company's stock, valued at approximately $2,052,000.

Other large investors also recently added to or reduced their stakes in the company. Viking Global Investors LP boosted its holdings in BioMarin Pharmaceutical by 13.8% in the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company's stock worth $675,505,000 after purchasing an additional 1,488,552 shares in the last quarter. Norges Bank bought a new position in BioMarin Pharmaceutical during the fourth quarter valued at about $447,572,000. AQR Capital Management LLC lifted its position in shares of BioMarin Pharmaceutical by 12.7% in the fourth quarter. AQR Capital Management LLC now owns 6,686,916 shares of the biotechnology company's stock worth $395,197,000 after buying an additional 754,807 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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 buying an additional 481,176 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of BioMarin Pharmaceutical by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,674,089 shares of the biotechnology company's stock worth $218,395,000 after acquiring an additional 131,969 shares in the last quarter. 98.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BMRN. Wall Street Zen raised BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Morgan Stanley increased their price target on BioMarin Pharmaceutical from $119.00 to $124.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Canaccord Genuity Group lifted their price target on shares of BioMarin Pharmaceutical from $111.00 to $114.00 and gave the company a "buy" rating in a research report on Monday, August 10th. HC Wainwright reduced their price objective on shares of BioMarin Pharmaceutical from $60.00 to $59.00 and set a "neutral" rating for the company in a research note on Tuesday, August 18th. Finally, Oppenheimer upped their price objective 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 analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, BioMarin Pharmaceutical has an average rating of "Moderate Buy" and an average target price of $88.83.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock opened at $65.07 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.39 and a quick ratio of 1.32. BioMarin Pharmaceutical Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $70.98. The firm has a fifty day moving average price of $60.85 and a two-hundred day moving average price of $57.93. The company has a market cap of $12.60 billion, a PE ratio of 175.86, a price-to-earnings-growth ratio of 0.48 and a beta of 0.24.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $932.03 million. During the same quarter in the previous year, the firm posted $1.44 EPS. The business's 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. Analysts expect that BioMarin Pharmaceutical Inc. will post 4.1 EPS for the current year.

About BioMarin Pharmaceutical

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source