BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB decreased its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 31.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 250,623 shares of the biotechnology company’s stock after selling 113,877 shares during the quarter. BioMarin Pharmaceutical makes up approximately 1.7% of Rhenman & Partners Asset Management AB’s holdings, making the stock its 22nd largest holding. Rhenman & Partners Asset Management AB owned 0.13% of BioMarin Pharmaceutical worth $16,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the stock. Merit Financial Group LLC purchased a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth about $317,000. Assenagon Asset Management S.A. increased its stake in shares of BioMarin Pharmaceutical by 461.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock worth $40,205,000 after buying an additional 502,695 shares during the last quarter. Wedmont Private Capital acquired a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at about $430,000. Swedbank AB raised its stake in BioMarin Pharmaceutical by 11.2% during the fourth quarter. Swedbank AB now owns 432,122 shares of the biotechnology company’s stock valued at $28,403,000 after buying an additional 43,593 shares in the last quarter. Finally, Tidal Investments LLC raised its position in shares of BioMarin Pharmaceutical by 150.4% during the 3rd quarter. Tidal Investments LLC now owns 30,467 shares of the biotechnology company’s stock valued at $2,142,000 after acquiring an additional 18,300 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,295 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the completion of the transaction, the chief accounting officer now owns 16,955 shares in the company, valued at approximately $1,212,621.60. This represents a 7.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.85% of the company’s stock.

Analyst Ratings Changes

BMRN has been the topic of a number of recent research reports. Citigroup raised their target price on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. StockNews.com lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Piper Sandler boosted their price target on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Oppenheimer upgraded BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price objective for the company in a research report on Monday, February 24th. Finally, Bank of America raised their target price on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $94.00.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock opened at $60.26 on Friday. The stock has a market capitalization of $11.50 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 0.61 and a beta of 0.30. BioMarin Pharmaceutical Inc. has a 1-year low of $59.99 and a 1-year high of $94.85. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The firm has a fifty day simple moving average of $67.95 and a 200-day simple moving average of $67.24.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The company had revenue of $747.31 million during the quarter, compared to analysts’ expectations of $711.05 million. On average, sell-side analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.