Northwestern Mutual Wealth Management Co. Has $934,000 Position in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Northwestern Mutual Wealth Management Co. sold 4,768 shares of BioMarin Pharmaceutical, reducing its stake by 26.5%, leaving it with 13,218 shares valued at $934,000.
• Institutional investors now hold 98.71% of BioMarin Pharmaceutical's stock, with several firms recently increasing their positions, including Farther Finance Advisors LLC, which raised its stake by 95.9%.
• Analysts have mixed ratings on BioMarin, with UBS raising its target price to $114.00 while Zacks downgraded it from "strong-buy" to "hold," reflecting varied investor sentiment.

Northwestern Mutual Wealth Management Co. trimmed its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 26.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,218 shares of the biotechnology company's stock after selling 4,768 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in BioMarin Pharmaceutical were worth $934,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Byrne Financial Freedom LLC raised its stake in BioMarin Pharmaceutical by 4.4% in the 1st quarter. Byrne Financial Freedom LLC now owns 3,852 shares of the biotechnology company's stock valued at $272,000 after acquiring an additional 161 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in BioMarin Pharmaceutical by 0.9% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,523 shares of the biotechnology company's stock worth $1,592,000 after acquiring an additional 197 shares during the last quarter. Xponance Inc. increased its stake in shares of BioMarin Pharmaceutical by 0.6% during the first quarter. Xponance Inc. now owns 31,877 shares of the biotechnology company's stock worth $2,253,000 after purchasing an additional 202 shares during the period. Farther Finance Advisors LLC boosted its stake in BioMarin Pharmaceutical by 95.9% in the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 211 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in BioMarin Pharmaceutical by 5.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 4,572 shares of the biotechnology company's stock worth $323,000 after buying an additional 217 shares during the period. Institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock traded down $2.30 during mid-day trading on Thursday, reaching $56.68. The company had a trading volume of 1,022,102 shares, compared to its average volume of 1,916,299. The company has a quick ratio of 3.60, a current ratio of 5.56 and a debt-to-equity ratio of 0.10. The firm has a market cap of $10.88 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 0.74 and a beta of 0.35. The company has a 50 day moving average of $58.04 and a 200-day moving average of $61.06. BioMarin Pharmaceutical Inc. has a 52 week low of $52.93 and a 52 week high of $90.01.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Raymond James Financial assumed coverage on shares of BioMarin Pharmaceutical in a research report on Wednesday. They issued an "outperform" rating and a $85.00 price target for the company. Zacks Research lowered shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Wolfe Research set a $95.00 price objective on BioMarin Pharmaceutical and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Morgan Stanley decreased their price target on BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating for the company in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. upped their target price on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Eighteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $93.43.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.