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

Swedbank AB grew its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 34.7% in the third quarter, according to its most recent disclosure 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’s holdings in BioMarin Pharmaceutical were worth $27,310,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Primecap Management Co. CA lifted its holdings in shares of BioMarin Pharmaceutical by 0.4% during the third quarter. Primecap Management Co. CA now owns 18,867,435 shares of the biotechnology company’s stock worth $1,326,192,000 after purchasing an additional 77,350 shares during the period. Avoro Capital Advisors LLC lifted its stake in shares of BioMarin Pharmaceutical by 4.4% in the 2nd quarter. Avoro Capital Advisors LLC now owns 4,557,416 shares of the biotechnology company’s stock worth $375,212,000 after acquiring an additional 192,416 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of BioMarin Pharmaceutical by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,401,628 shares of the biotechnology company’s stock valued at $98,520,000 after acquiring an additional 55,699 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of BioMarin Pharmaceutical by 38.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company’s stock worth $85,178,000 after acquiring an additional 289,953 shares during the period. Finally, DNB Asset Management AS raised its holdings in BioMarin Pharmaceutical by 17.7% during the second quarter. DNB Asset Management AS now owns 1,021,054 shares of the biotechnology company’s stock worth $84,063,000 after purchasing an additional 153,867 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on BMRN shares. JPMorgan Chase & Co. dropped their target price on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. William Blair downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Barclays lowered their price target on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. Piper Sandler raised their price objective on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Finally, StockNews.com upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price of $94.20.

BioMarin Pharmaceutical Stock Up 1.3 %

Shares of NASDAQ BMRN opened at $65.09 on Tuesday. The firm has a market cap of $12.40 billion, a P/E ratio of 38.98, a price-to-earnings-growth ratio of 0.63 and a beta of 0.31. 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 Inc. has a 1 year low of $61.15 and a 1 year high of $99.56. The firm’s 50 day moving average price is $68.16 and its 200 day moving average price is $78.30.

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

Insiders Place Their Bets

In related news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total transaction of $350,300.86. Following the completion of the transaction, the executive vice president now owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.85% of the stock is owned by corporate insiders.

About BioMarin Pharmaceutical

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.