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

Tredje AP fonden trimmed its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 8.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 271,999 shares of the biotechnology company’s stock after selling 24,940 shares during the quarter. Tredje AP fonden owned approximately 0.14% of BioMarin Pharmaceutical worth $16,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BMRN. Activest Wealth Management acquired a new stake in BioMarin Pharmaceutical in the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC lifted its holdings in BioMarin Pharmaceutical by 92.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 360 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in BioMarin Pharmaceutical in the 3rd quarter worth approximately $40,000. Parallel Advisors LLC lifted its holdings in BioMarin Pharmaceutical by 62.2% in the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 295 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in BioMarin Pharmaceutical in the 4th quarter worth approximately $45,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Up 0.3%

Shares of BMRN stock opened at $49.84 on Wednesday. BioMarin Pharmaceutical Inc. has a 12 month low of $49.26 and a 12 month high of $66.28. The firm has a market cap of $9.63 billion, a PE ratio of 36.38, a price-to-earnings-growth ratio of 0.37 and a beta of 0.23. The stock has a 50 day moving average of $55.04 and a 200-day moving average of $56.27. The company has a quick ratio of 4.20, a current ratio of 5.81 and a debt-to-equity ratio of 0.23.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. HC Wainwright reduced their target price on BioMarin Pharmaceutical from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Monday. The Goldman Sachs Group assumed coverage on BioMarin Pharmaceutical in a report on Monday, May 11th. They issued a “neutral” rating and a $69.00 target price for the company. Bank of America reduced their target price on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday. Morgan Stanley reduced their target price on BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating for the company in a report on Tuesday, May 5th. Finally, Loop Capital set a $105.00 target price on BioMarin Pharmaceutical in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price of $88.88.

Insider Buying and Selling

In other news, EVP Gregory R. Friberg sold 6,326 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $60.38, for a total transaction of $381,963.88. Following the completion of the transaction, the executive vice president directly owned 37,578 shares in the company, valued at $2,268,959.64. The trade was a 14.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles Greg Guyer sold 16,486 shares of the company’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 value of $996,743.56. Following the transaction, the executive vice president owned 79,953 shares of the company’s stock, valued at approximately $4,833,958.38. This trade represents a 17.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 26,093 shares of company stock valued at $1,555,389. Corporate 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.