Lansforsakringar Fondforvaltning AB publ Makes New Investment in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Lansforsakringar Fondforvaltning AB publ purchased a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 66,436 shares of the biotechnology company's stock, valued at approximately $4,367,000.

Several other large investors also recently bought and sold shares of BMRN. Fifth Third Bancorp increased its position in BioMarin Pharmaceutical by 13.9% during the fourth quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company's stock valued at $89,000 after acquiring an additional 165 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of BioMarin Pharmaceutical by 27.5% during the fourth quarter. Blue Trust Inc. now owns 1,095 shares of the biotechnology company's stock valued at $77,000 after acquiring an additional 236 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of BioMarin Pharmaceutical by 5.5% during the fourth quarter. Pacer Advisors Inc. now owns 37,423 shares of the biotechnology company's stock valued at $2,460,000 after acquiring an additional 1,938 shares in the last quarter. R Squared Ltd acquired a new position in BioMarin Pharmaceutical in the 4th quarter worth approximately $121,000. Finally, Swedbank AB increased its holdings in BioMarin Pharmaceutical by 11.2% in the 4th quarter. Swedbank AB now owns 432,122 shares of the biotechnology company's stock worth $28,403,000 after buying an additional 43,593 shares during the period. Institutional investors own 98.71% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BMRN shares. UBS Group lifted their price target on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Wall Street Zen upgraded BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Friday, April 25th. Citigroup cut their price objective on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. The Goldman Sachs Group cut their price objective on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $70.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $93.45.

Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,786 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total value of $105,927.66. Following the completion of the sale, the chief accounting officer now directly owns 14,173 shares of the company's stock, valued at $840,600.63. This trade represents a 11.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold 3,354 shares of company stock valued at $216,269 over the last three months. Company insiders own 0.85% of the company's stock.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN traded down $0.56 during trading on Friday, hitting $57.99. The company's stock had a trading volume of 2,312,260 shares, compared to its average volume of 1,876,564. BioMarin Pharmaceutical Inc. has a 52 week low of $52.93 and a 52 week high of $94.85. The firm has a market cap of $11.12 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 0.61 and a beta of 0.27. The firm has a 50 day moving average price of $61.08 and a 200 day moving average price of $64.50. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11.

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.