Swedbank AB Purchases 329,794 Shares of BioMarin Pharmaceutical Inc. $BMRN

Key Points

• Swedbank AB boosted its stake in BioMarin by 70.6%, buying 329,794 shares to hold 796,737 shares (about 0.41% of the company) valued at roughly $47.35 million.
• Institutional investors own 98.71% of BioMarin and analysts maintain a consensus "Moderate Buy" rating with an average target price of $90.86 versus the recent trading price near $54.12, indicating notable analyst upside expectations.
• Two senior executives sold a combined 22,812 shares (16,486 by Charles Greg Guyer and 6,326 by Gregory R. Friberg), representing meaningful insider reductions in their holdings.

Swedbank AB grew its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 70.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 796,737 shares of the biotechnology company's stock after acquiring an additional 329,794 shares during the quarter. Swedbank AB owned 0.41% of BioMarin Pharmaceutical worth $47,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in BMRN. NewEdge Advisors LLC boosted its holdings in shares of BioMarin Pharmaceutical by 11.5% in the 1st quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company's stock worth $266,000 after purchasing an additional 388 shares during the period. Empowered Funds LLC boosted its holdings in shares of BioMarin Pharmaceutical by 207.4% in the 1st quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company's stock worth $850,000 after purchasing an additional 8,112 shares during the period. Focus Partners Wealth boosted its holdings in shares of BioMarin Pharmaceutical by 70.2% in the 1st quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company's stock worth $835,000 after purchasing an additional 4,876 shares during the period. Sivia Capital Partners LLC boosted its holdings in shares of BioMarin Pharmaceutical by 33.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company's stock worth $244,000 after purchasing an additional 1,102 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of BioMarin Pharmaceutical by 23.5% in the 2nd quarter. Invesco Ltd. now owns 618,835 shares of the biotechnology company's stock worth $34,017,000 after purchasing an additional 117,617 shares during the period. Institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Trading Down 0.9%

BMRN opened at $54.12 on Friday. The firm has a market cap of $10.46 billion, a price-to-earnings ratio of 39.50, a PEG ratio of 0.39 and a beta of 0.23. The company has a current ratio of 5.81, a quick ratio of 3.50 and a debt-to-equity ratio of 0.23. BioMarin Pharmaceutical Inc. has a 12 month low of $50.76 and a 12 month high of $66.28. The stock has a fifty day moving average price of $56.38 and a 200-day moving average price of $56.34.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BMRN. Sanford C. Bernstein dropped their price objective on BioMarin Pharmaceutical from $94.00 to $82.00 and set an "outperform" rating for the company in a report on Tuesday. Stifel Nicolaus set a $68.00 price objective on BioMarin Pharmaceutical in a report on Tuesday, February 24th. Barclays boosted their price objective on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an "overweight" rating in a report on Tuesday, March 3rd. Weiss Ratings raised BioMarin Pharmaceutical from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, May 1st. Finally, Wolfe Research reaffirmed an "outperform" rating on shares of BioMarin Pharmaceutical in a research report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.86.

Insider Activity

In related news, EVP Charles Greg Guyer sold 16,486 shares of the company's stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total transaction of $996,743.56. Following the transaction, the executive vice president directly owned 79,953 shares of the company's stock, valued at $4,833,958.38. This represents a 17.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Gregory R. Friberg sold 6,326 shares of the company's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $60.38, for a total value of $381,963.88. Following the transaction, the executive vice president directly owned 37,578 shares in the company, valued at $2,268,959.64. This represents a 14.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.85% of the company's stock.

BioMarin Pharmaceutical Company 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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