BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Acquired by Swedbank AB

Swedbank AB increased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 11.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 432,122 shares of the biotechnology company’s stock after purchasing an additional 43,593 shares during the period. Swedbank AB owned 0.23% of BioMarin Pharmaceutical worth $28,403,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. nVerses Capital LLC acquired a new position in shares of BioMarin Pharmaceutical in the 3rd quarter worth approximately $28,000. TD Private Client Wealth LLC boosted its holdings in BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 186 shares during the period. Meeder Asset Management Inc. boosted its holdings in BioMarin Pharmaceutical by 920.8% in the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 663 shares during the period. GAMMA Investing LLC increased its stake in BioMarin Pharmaceutical by 56.1% during the third quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 281 shares during the last quarter. Finally, True Wealth Design LLC lifted its position in shares of BioMarin Pharmaceutical by 13,400.0% in the 3rd quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock worth $57,000 after buying an additional 804 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BMRN has been the topic of several research reports. William Blair lowered shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. dropped their price target on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Robert W. Baird dropped their target price on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Wolfe Research assumed coverage on BioMarin Pharmaceutical in a research report on Friday, November 15th. They set an “outperform” rating and a $95.00 price objective for the company. Finally, Citigroup lowered their price target on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $94.20.

BioMarin Pharmaceutical Price Performance

NASDAQ BMRN opened at $63.88 on Friday. The company has a 50 day simple moving average of $65.16 and a 200-day simple moving average of $73.20. BioMarin Pharmaceutical Inc. has a 52-week low of $60.63 and a 52-week high of $94.85. The firm has a market capitalization of $12.17 billion, a price-to-earnings ratio of 38.25, a price-to-earnings-growth ratio of 0.54 and a beta of 0.29. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The company had revenue of $746.00 million during the quarter, compared to analysts’ expectations of $703.37 million. During the same quarter in the previous year, the company earned $0.26 EPS. The firm’s quarterly revenue was up 28.4% compared to the same quarter last year. Equities research analysts predict that BioMarin Pharmaceutical Inc. will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Charles Greg Guyer sold 5,278 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total transaction of $350,300.86. Following the transaction, the executive vice president now owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.85% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical 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.