KLP Kapitalforvaltning AS Takes $4.39 Million Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

KLP Kapitalforvaltning AS bought a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 66,737 shares of the biotechnology company’s stock, valued at approximately $4,387,000.

A number of other large investors have also added to or reduced their stakes in BMRN. Quest Partners LLC purchased a new position in shares of BioMarin Pharmaceutical in the 3rd quarter worth $305,000. Advisors Asset Management Inc. boosted its position in BioMarin Pharmaceutical by 1.6% in the third quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company’s stock worth $805,000 after purchasing an additional 180 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of BioMarin Pharmaceutical by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,401,628 shares of the biotechnology company’s stock valued at $98,520,000 after purchasing an additional 55,699 shares during the period. Swedbank AB lifted its stake in shares of BioMarin Pharmaceutical by 34.7% in the 3rd quarter. Swedbank AB now owns 388,529 shares of the biotechnology company’s stock worth $27,310,000 after purchasing an additional 100,000 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of BioMarin Pharmaceutical by 7.0% in the third quarter. Daiwa Securities Group Inc. now owns 18,006 shares of the biotechnology company’s stock worth $1,266,000 after buying an additional 1,185 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Erin Burkhart sold 1,295 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the completion of the transaction, the chief accounting officer now owns 16,955 shares of the company’s stock, valued at approximately $1,212,621.60. This trade represents a 7.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock opened at $71.53 on Wednesday. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 12 month low of $60.63 and a 12 month high of $94.85. The stock has a 50 day moving average of $66.83 and a 200 day moving average of $67.78. The firm has a market cap of $13.65 billion, a PE ratio of 32.51, a PEG ratio of 0.61 and a beta of 0.33.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. The firm had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. On average, research analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wedbush reiterated an “outperform” rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. StockNews.com upgraded BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 18th. Oppenheimer upgraded BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price target for the company in a research report on Monday, February 24th. Scotiabank lifted their price objective on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. Finally, UBS Group raised their target price on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average target price of $94.00.

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.