BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Bought by Tredje AP fonden

Tredje AP fonden raised its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 662.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 223,664 shares of the biotechnology company’s stock after buying an additional 194,334 shares during the period. Tredje AP fonden’s holdings in BioMarin Pharmaceutical were worth $14,701,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BMRN. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of BioMarin Pharmaceutical by 206.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,496 shares of the biotechnology company’s stock valued at $23,432,000 after purchasing an additional 240,239 shares during the period. Avantax Advisory Services Inc. increased its stake in BioMarin Pharmaceutical by 37.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 5,950 shares of the biotechnology company’s stock worth $391,000 after purchasing an additional 1,630 shares in the last quarter. HighTower Advisors LLC increased its stake in BioMarin Pharmaceutical by 34.9% in the 4th quarter. HighTower Advisors LLC now owns 41,468 shares of the biotechnology company’s stock worth $2,726,000 after purchasing an additional 10,730 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in BioMarin Pharmaceutical by 25.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 22,615 shares of the biotechnology company’s stock worth $1,487,000 after purchasing an additional 4,609 shares in the last quarter. Finally, AlphaQuest LLC boosted its position in BioMarin Pharmaceutical by 137.8% during the 4th quarter. AlphaQuest LLC now owns 10,311 shares of the biotechnology company’s stock worth $678,000 after acquiring an additional 5,975 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

Insider Activity

In other news, CAO Erin Burkhart sold 1,344 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the transaction, the chief accounting officer now directly owns 13,105 shares of the company’s stock, valued at approximately $896,119.90. The trade was a 9.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BMRN. 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 report on Monday, February 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Wedbush reaffirmed an “outperform” rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Piper Sandler increased their price target on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, Scotiabank raised their price target on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $94.00.

BioMarin Pharmaceutical Stock Up 0.1 %

BMRN opened at $70.60 on Friday. The stock has a market cap of $13.47 billion, a PE ratio of 32.09, a P/E/G ratio of 0.61 and a beta of 0.33. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 52 week low of $60.63 and a 52 week high of $94.85. The business’s fifty day simple moving average is $66.16 and its 200 day simple moving average is $69.10.

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

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.