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

Swedbank AB boosted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 34.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 388,529 shares of the biotechnology company’s stock after buying an additional 100,000 shares during the period. Swedbank AB owned 0.20% of BioMarin Pharmaceutical worth $27,310,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in shares of BioMarin Pharmaceutical during the 2nd quarter valued at about $25,000. nVerses Capital LLC purchased a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at approximately $28,000. BOKF NA acquired a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth approximately $31,000. Quent Capital LLC raised its position in shares of BioMarin Pharmaceutical by 58.9% during the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 145 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new position in BioMarin Pharmaceutical in the second quarter valued at approximately $47,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on BMRN shares. William Blair downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Piper Sandler upped their target price on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Bank of America dropped their price target on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Wolfe Research initiated coverage on shares of BioMarin Pharmaceutical in a report on Friday, November 15th. They issued an “outperform” rating and a $95.00 price objective on the stock. Finally, Robert W. Baird dropped their target price on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.20.

Insider Transactions at BioMarin Pharmaceutical

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 stock was 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 in the company, valued at $4,573,490.33. This trade represents a 7.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Trading Up 1.3 %

NASDAQ:BMRN opened at $65.09 on Tuesday. The stock has a 50-day simple moving average of $68.16 and a 200-day simple moving average of $78.30. The stock has a market cap of $12.40 billion, a P/E ratio of 38.98, a P/E/G ratio of 0.63 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a 1 year low of $61.15 and a 1 year high of $99.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The company had revenue of $746.00 million during the quarter, compared to analysts’ expectations of $703.37 million. During the same period last year, the business earned $0.26 earnings per share. The company’s quarterly revenue was up 28.4% on a year-over-year basis. As a group, analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current fiscal year.

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.