DNB Asset Management AS Has $80.80 Million Holdings in BioMarin Pharmaceutical Inc. $BMRN

DNB Asset Management AS increased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 6.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,359,549 shares of the biotechnology company’s stock after purchasing an additional 85,265 shares during the quarter. DNB Asset Management AS’s holdings in BioMarin Pharmaceutical were worth $80,798,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. NewEdge Advisors LLC grew its holdings in BioMarin Pharmaceutical by 11.5% during the first 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 grew its holdings in BioMarin Pharmaceutical by 207.4% during the first 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 grew its holdings in BioMarin Pharmaceutical by 70.2% during the first 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 grew its holdings in BioMarin Pharmaceutical by 33.0% during the second 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. grew its holdings in BioMarin Pharmaceutical by 23.5% during the second 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 and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Down 2.7%

Shares of BMRN stock opened at $51.81 on Friday. The firm has a 50 day moving average price of $55.48 and a two-hundred day moving average price of $56.28. The company has a quick ratio of 4.20, a current ratio of 5.81 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $10.01 billion, a PE ratio of 37.82, a price-to-earnings-growth ratio of 0.40 and a beta of 0.23. BioMarin Pharmaceutical Inc. has a 12-month low of $50.76 and a 12-month high of $66.28.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Weiss Ratings upgraded BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 1st. Barclays lifted their price target on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Truist Financial upgraded BioMarin Pharmaceutical to a “strong-buy” rating in a report on Wednesday, March 25th. Guggenheim reduced their price target on BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Finally, Loop Capital set a $105.00 price target on BioMarin Pharmaceutical in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.91.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $53.85, for a total transaction of $176,681.85. Following the completion of the sale, the executive vice president directly owned 51,818 shares in the company, valued at $2,790,399.30. This trade represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Charles Greg Guyer sold 16,486 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total transaction of $996,743.56. Following the sale, the executive vice president owned 79,953 shares of the company’s stock, valued at $4,833,958.38. This trade represents a 17.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,093 shares of company stock valued at $1,555,389 over the last 90 days. Company insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical 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.