Tredje AP fonden Has $20.26 Million Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Tredje AP fonden grew its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 28.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 286,664 shares of the biotechnology company's stock after purchasing an additional 63,000 shares during the period. Tredje AP fonden owned approximately 0.15% of BioMarin Pharmaceutical worth $20,264,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bayforest Capital Ltd bought a new position in BioMarin Pharmaceutical during the first quarter valued at about $552,000. Banque Cantonale Vaudoise bought a new position in BioMarin Pharmaceutical during the first quarter valued at about $1,131,000. GSA Capital Partners LLP raised its holdings in BioMarin Pharmaceutical by 99.7% during the first quarter. GSA Capital Partners LLP now owns 14,811 shares of the biotechnology company's stock valued at $1,047,000 after buying an additional 7,393 shares in the last quarter. Federated Hermes Inc. raised its holdings in BioMarin Pharmaceutical by 3.4% during the first quarter. Federated Hermes Inc. now owns 19,647 shares of the biotechnology company's stock valued at $1,389,000 after buying an additional 648 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in BioMarin Pharmaceutical during the first quarter valued at about $1,773,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total value of $105,927.66. Following the sale, the chief accounting officer owned 14,173 shares in the company, valued at $840,600.63. This trade represents a 11.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.85% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock traded up $0.29 during mid-day trading on Friday, reaching $58.14. The company had a trading volume of 3,817,399 shares, compared to its average volume of 1,650,803. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $94.85. The company has a current ratio of 5.52, a quick ratio of 3.49 and a debt-to-equity ratio of 0.10. The company has a market cap of $11.15 billion, a P/E ratio of 21.61, a P/E/G ratio of 0.80 and a beta of 0.18. The business has a fifty day simple moving average of $57.10 and a 200 day simple moving average of $61.80.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BMRN shares. Morgan Stanley cut their target price on BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd. Wolfe Research set a $95.00 price target on BioMarin Pharmaceutical and gave the company an "outperform" rating in a research report on Tuesday, July 15th. The Goldman Sachs Group lowered their price target on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. JPMorgan Chase & Co. raised their price target on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Finally, Wall Street Zen downgraded BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Six equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $93.74.

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.