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

DNB Asset Management AS raised its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,359,549 shares of the biotechnology company’s stock after buying an additional 85,265 shares during the quarter. DNB Asset Management AS owned 0.71% of BioMarin Pharmaceutical worth $80,798,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in BMRN. Federated Hermes Inc. increased its position in shares of BioMarin Pharmaceutical by 292.6% in the 3rd quarter. Federated Hermes Inc. now owns 278,315 shares of the biotechnology company’s stock valued at $15,074,000 after buying an additional 207,430 shares in the last quarter. Mediolanum International Funds Ltd increased its position in shares of BioMarin Pharmaceutical by 56.2% in the 3rd quarter. Mediolanum International Funds Ltd now owns 137,675 shares of the biotechnology company’s stock valued at $7,437,000 after buying an additional 49,534 shares in the last quarter. Rakuten Investment Management Inc. bought a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at $1,265,000. New York Life Investment Management LLC bought a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at $1,071,000. Finally, Savant Capital LLC increased its position in shares of BioMarin Pharmaceutical by 54.4% in the 3rd quarter. Savant Capital LLC now owns 82,827 shares of the biotechnology company’s stock valued at $4,486,000 after buying an additional 29,174 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Wall Street Analyst Weigh In

BMRN has been the subject of a number of recent analyst reports. Truist Financial upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Wednesday, March 25th. Canaccord Genuity Group increased their target price on BioMarin Pharmaceutical from $104.00 to $116.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. HC Wainwright reiterated a “neutral” rating and set a $55.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday, May 5th. Stifel Nicolaus set a $68.00 target price on BioMarin Pharmaceutical in a report on Tuesday, February 24th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $66.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $89.91.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $51.81 on Friday. The stock has a 50-day moving average price of $55.48 and a two-hundred day moving average price of $56.28. The stock has a market cap 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. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23. BioMarin Pharmaceutical Inc. has a 1 year low of $50.76 and a 1 year high of $66.28.

Insider Activity

In related news, EVP Gregory R. Friberg sold 6,326 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $60.38, for a total value of $381,963.88. Following the sale, the executive vice president owned 37,578 shares of the company’s stock, valued at approximately $2,268,959.64. The trade was a 14.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles Greg Guyer sold 16,486 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $60.46, for a total value of $996,743.56. Following the completion of the sale, the executive vice president directly owned 79,953 shares in the company, valued at approximately $4,833,958.38. This represents a 17.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 26,093 shares of company stock valued at $1,555,389 in the last 90 days. 0.85% of the stock is owned by corporate insiders.

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.