The Manufacturers Life Insurance Company Purchases New Holdings in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• The Manufacturers Life Insurance Company acquired 141,317 BioMarin shares worth approximately $8.1 million in the second quarter, while institutional investors and hedge funds collectively own 98.71% of the stock.
• BioMarin reported quarterly earnings of $1.20 per share, exceeding estimates of $0.95, and revenue of $989.71 million, up 20% year over year and above expectations.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $88.79, despite the stock recently opening at $64.67.

The Manufacturers Life Insurance Company acquired a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 141,317 shares of the biotechnology company's stock, valued at approximately $8,086,000. The Manufacturers Life Insurance Company owned 0.07% of BioMarin Pharmaceutical as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter worth $39,000. CIBC Private Wealth Group LLC raised its position in BioMarin Pharmaceutical by 38.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company's stock valued at $39,000 after buying an additional 179 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in BioMarin Pharmaceutical in the 3rd quarter worth about $40,000. Parallel Advisors LLC lifted its stake in BioMarin Pharmaceutical by 62.2% in the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company's stock worth $42,000 after acquiring an additional 295 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. acquired a new stake in BioMarin Pharmaceutical during the 2nd quarter worth about $56,000. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $64.67 on Monday. The company has a current ratio of 2.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.56. BioMarin Pharmaceutical Inc. has a 1 year low of $49.26 and a 1 year high of $70.98. The company has a fifty day simple moving average of $61.70 and a 200 day simple moving average of $58.15. The firm has a market cap of $12.52 billion, a PE ratio of 174.78, a PEG ratio of 0.46 and a beta of 0.24.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its earnings results on Thursday, August 6th. The biotechnology company reported $1.20 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 firm had revenue of $989.71 million for the quarter, compared to the consensus estimate of $932.03 million. During the same period in the prior year, the business posted $1.44 earnings per share. The business's quarterly 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. Sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post 4.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BMRN has been the topic of a number of research reports. Barclays upped their target price on BioMarin Pharmaceutical from $105.00 to $111.00 and gave the company an "overweight" rating in a report on Monday, August 17th. The Goldman Sachs Group started coverage on shares of BioMarin Pharmaceutical in a research report on Monday, May 11th. They set a "neutral" rating and a $69.00 price objective on the stock. Piper Sandler increased their target price on shares of BioMarin Pharmaceutical from $82.00 to $88.00 and gave the stock an "overweight" rating in a research report on Monday, August 17th. UBS Group set a $88.00 target price on shares of BioMarin Pharmaceutical in a research note on Wednesday. Finally, HC Wainwright dropped their price target 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. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $88.79.

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.

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