Tredje AP fonden Has $16.17 Million Stake in BioMarin Pharmaceutical Inc. $BMRN

Tredje AP fonden trimmed its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 8.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 271,999 shares of the biotechnology company’s stock after selling 24,940 shares during the quarter. Tredje AP fonden’s holdings in BioMarin Pharmaceutical were worth $16,165,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Activest Wealth Management acquired a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at $26,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of BioMarin Pharmaceutical in the third quarter valued at $40,000. Smartleaf Asset Management LLC raised its stake in shares of BioMarin Pharmaceutical by 92.5% in the third quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 360 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at $45,000. Finally, Parallel Advisors LLC raised its stake in shares of BioMarin Pharmaceutical by 62.2% in the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 295 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN opened at $49.84 on Wednesday. The business’s fifty day moving average price is $55.04 and its two-hundred day moving average price is $56.27. BioMarin Pharmaceutical Inc. has a fifty-two week low of $49.26 and a fifty-two week high of $66.28. The stock has a market capitalization of $9.63 billion, a price-to-earnings ratio of 36.38, a price-to-earnings-growth ratio of 0.37 and a beta of 0.23. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.81 and a quick ratio of 4.20.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Canaccord Genuity Group upped their target price on BioMarin Pharmaceutical from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Barclays upped their price target on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Bank of America lowered their price target on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday. Wells Fargo & Company upped their price target on BioMarin Pharmaceutical from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Finally, HC Wainwright lowered their price target on BioMarin Pharmaceutical from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.88.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Gregory R. Friberg sold 3,281 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $53.85, for a total transaction of $176,681.85. Following the sale, the executive vice president owned 51,818 shares in the company, valued at approximately $2,790,399.30. This represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles Greg Guyer sold 16,486 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total value of $996,743.56. Following the sale, the executive vice president owned 79,953 shares in the company, valued at $4,833,958.38. The trade was a 17.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,093 shares of company stock worth $1,555,389 in the last 90 days. Company insiders own 0.85% of the company’s stock.

About BioMarin Pharmaceutical

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.