BioMarin Pharmaceutical Inc. $BMRN Shares Acquired by Swedbank AB

Swedbank AB grew its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 70.6% during the fourth quarter, Holdings Channel reports. The firm owned 796,737 shares of the biotechnology company’s stock after acquiring an additional 329,794 shares during the period. Swedbank AB’s holdings in BioMarin Pharmaceutical were worth $47,350,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Pinnacle Wealth Management Advisory Group LLC acquired a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at about $364,000. Hussman Strategic Advisors Inc. increased its holdings in shares of BioMarin Pharmaceutical by 50.0% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 31,500 shares of the biotechnology company’s stock valued at $1,872,000 after purchasing an additional 10,500 shares during the period. Horizon Investments LLC increased its holdings in shares of BioMarin Pharmaceutical by 22.3% in the fourth quarter. Horizon Investments LLC now owns 99,681 shares of the biotechnology company’s stock valued at $5,924,000 after purchasing an additional 18,143 shares during the period. GenTrust LLC purchased a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth about $206,000. Finally, New York State Teachers Retirement System grew its holdings in BioMarin Pharmaceutical by 2.7% during the fourth quarter. New York State Teachers Retirement System now owns 119,142 shares of the biotechnology company’s stock worth $7,081,000 after acquiring an additional 3,151 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN opened at $54.12 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.81 and a quick ratio of 3.50. The business’s 50 day moving average price is $56.38 and its 200-day moving average price is $56.34. The firm has a market capitalization of $10.46 billion, a PE ratio of 39.50, a P/E/G ratio of 0.39 and a beta of 0.23. BioMarin Pharmaceutical Inc. has a 1 year low of $50.76 and a 1 year high of $66.28.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BMRN shares. Oppenheimer dropped their target price on BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Tuesday, February 24th. Wells Fargo & Company raised their target price on BioMarin Pharmaceutical from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Barclays raised their target price on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Loop Capital set a $105.00 target price on BioMarin Pharmaceutical in a report on Monday, March 2nd. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $55.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $90.86.

Insider Buying and Selling

In other news, EVP Charles Greg Guyer sold 16,486 shares of BioMarin Pharmaceutical stock in a transaction that occurred 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 directly owned 79,953 shares of the company’s stock, valued at $4,833,958.38. The trade was a 17.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gregory R. Friberg sold 6,326 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $60.38, for a total value of $381,963.88. Following the completion of the sale, the executive vice president directly owned 37,578 shares in the company, valued at $2,268,959.64. This represents a 14.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.