Forsta AP Fonden Grows Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Forsta AP Fonden raised its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 12.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,300 shares of the biotechnology company’s stock after acquiring an additional 4,000 shares during the quarter. Forsta AP Fonden’s holdings in BioMarin Pharmaceutical were worth $3,170,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in BioMarin Pharmaceutical by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 18,050,062 shares of the biotechnology company’s stock valued at $1,740,387,000 after acquiring an additional 348,852 shares during the period. Capital Research Global Investors raised its stake in BioMarin Pharmaceutical by 79.0% in the 4th quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company’s stock valued at $1,038,907,000 after acquiring an additional 4,756,671 shares during the period. Avoro Capital Advisors LLC raised its stake in BioMarin Pharmaceutical by 11.7% in the 4th quarter. Avoro Capital Advisors LLC now owns 4,300,000 shares of the biotechnology company’s stock valued at $414,606,000 after acquiring an additional 450,000 shares during the period. Norges Bank bought a new stake in BioMarin Pharmaceutical in the 4th quarter valued at about $324,098,000. Finally, Price T Rowe Associates Inc. MD raised its stake in BioMarin Pharmaceutical by 33.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,605,983 shares of the biotechnology company’s stock valued at $154,850,000 after acquiring an additional 401,152 shares during the period. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Up 0.6 %

Shares of NASDAQ:BMRN traded up $0.48 during trading on Monday, hitting $85.50. The stock had a trading volume of 21,784 shares, compared to its average volume of 1,922,708. The company has a market capitalization of $16.23 billion, a PE ratio of 79.91, a PEG ratio of 1.21 and a beta of 0.32. The company has a quick ratio of 1.70, a current ratio of 2.74 and a debt-to-equity ratio of 0.12. BioMarin Pharmaceutical Inc. has a 12 month low of $73.68 and a 12 month high of $99.56. The firm’s fifty day moving average is $80.89 and its 200 day moving average is $86.26.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.12. The business had revenue of $648.83 million for the quarter, compared to analysts’ expectations of $649.75 million. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.34%. Analysts anticipate that BioMarin Pharmaceutical Inc. will post 1.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 1,850 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $85.01, for a total value of $157,268.50. Following the sale, the executive vice president now owns 56,157 shares in the company, valued at $4,773,906.57. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP George Eric Davis sold 1,850 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $85.01, for a total value of $157,268.50. Following the transaction, the executive vice president now owns 56,157 shares in the company, valued at approximately $4,773,906.57. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jean Jacques Bienaime sold 20,000 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $81.62, for a total value of $1,632,400.00. Following the completion of the transaction, the director now owns 474,994 shares of the company’s stock, valued at approximately $38,769,010.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,700 shares of company stock worth $5,209,352. 1.85% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BMRN shares. Baird R W cut BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 17th. Citigroup reduced their price target on BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $110.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, April 25th. Morgan Stanley dropped their price objective on BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, April 26th. Finally, Robert W. Baird cut BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $104.00 to $72.00 in a report on Friday, May 17th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.37.

About BioMarin Pharmaceutical

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.