Andra AP fonden Decreases Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Andra AP fonden cut its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 51.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,200 shares of the biotechnology company’s stock after selling 12,000 shares during the quarter. Andra AP fonden’s holdings in BioMarin Pharmaceutical were worth $736,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BMRN. Wealth Enhancement Advisory Services LLC increased its stake in shares of BioMarin Pharmaceutical by 64.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,861 shares of the biotechnology company’s stock worth $412,000 after acquiring an additional 2,289 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of BioMarin Pharmaceutical by 102.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 11,700 shares of the biotechnology company’s stock worth $822,000 after acquiring an additional 5,911 shares during the last quarter. AIA Group Ltd increased its stake in shares of BioMarin Pharmaceutical by 15.4% in the 3rd quarter. AIA Group Ltd now owns 3,435 shares of the biotechnology company’s stock worth $241,000 after acquiring an additional 458 shares during the last quarter. Covestor Ltd increased its stake in shares of BioMarin Pharmaceutical by 336.4% in the 3rd quarter. Covestor Ltd now owns 1,030 shares of the biotechnology company’s stock worth $72,000 after acquiring an additional 794 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in shares of BioMarin Pharmaceutical by 20.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 13,322 shares of the biotechnology company’s stock worth $937,000 after acquiring an additional 2,277 shares during the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BMRN. UBS Group raised their target price on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. StockNews.com raised BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Monday. Wedbush reissued an “outperform” rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Scotiabank raised their price objective on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Finally, Citigroup raised their price objective on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

Insider Buying and Selling

In related news, CAO Erin Burkhart sold 1,344 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the completion of the sale, the chief accounting officer now owns 13,105 shares in the company, valued at $896,119.90. The trade was a 9.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.85% of the stock is owned by company insiders.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $72.23 on Monday. The stock has a 50-day simple moving average of $65.76 and a 200-day simple moving average of $69.34. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The stock has a market capitalization of $13.78 billion, a PE ratio of 32.83, a PEG ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 1 year low of $60.63 and a 1 year high of $94.85.

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