Handelsbanken Fonder AB boosted its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 17.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,500 shares of the biotechnology company's stock after buying an additional 8,600 shares during the quarter. Handelsbanken Fonder AB's holdings in BioMarin Pharmaceutical were worth $4,065,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in BioMarin Pharmaceutical by 95.9% in the first quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock worth $29,000 after acquiring an additional 211 shares during the period. LRI Investments LLC increased its holdings in BioMarin Pharmaceutical by 856.9% in the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company's stock worth $32,000 after buying an additional 437 shares during the period. SBI Securities Co. Ltd. acquired a new position in BioMarin Pharmaceutical in the 4th quarter worth approximately $36,000. MassMutual Private Wealth & Trust FSB boosted its position in BioMarin Pharmaceutical by 71.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock worth $37,000 after purchasing an additional 218 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in BioMarin Pharmaceutical by 64.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock worth $41,000 after purchasing an additional 233 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the company. Scotiabank increased their price objective on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a research note on Thursday, February 20th. 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. Citigroup lowered their target price on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Oppenheimer upgraded BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price objective for the company in a research note on Monday, February 24th. Finally, UBS Group lifted their price objective on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $93.45.
Get Our Latest Research Report on BMRN
BioMarin Pharmaceutical Stock Down 2.2%
Shares of NASDAQ BMRN traded down $1.24 during midday trading on Tuesday, hitting $55.00. The stock had a trading volume of 2,205,841 shares, compared to its average volume of 1,826,591. The company has a quick ratio of 3.49, a current ratio of 5.52 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical Inc. has a 52 week low of $52.93 and a 52 week high of $94.85. The company has a market cap of $10.55 billion, a P/E ratio of 20.45, a PEG ratio of 0.77 and a beta of 0.19. The business's 50 day moving average is $59.02 and its 200-day moving average is $63.85.
Insider Transactions at BioMarin Pharmaceutical
In related news, CAO Erin Burkhart sold 1,786 shares of the company'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 transaction of $105,927.66. Following the sale, the chief accounting officer now directly owns 14,173 shares in the company, valued at approximately $840,600.63. This represents a 11.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 3,354 shares of company stock valued at $216,269 over the last 90 days. 0.85% of the stock is currently owned by corporate insiders.
About BioMarin Pharmaceutical
(
Free Report)
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.
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