BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Tredje AP fonden

Tredje AP fonden lowered its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,330 shares of the biotechnology company’s stock after selling 463 shares during the period. Tredje AP fonden’s holdings in BioMarin Pharmaceutical were worth $2,415,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Innealta Capital LLC purchased a new position in BioMarin Pharmaceutical during the second quarter worth about $25,000. BOKF NA purchased a new position in BioMarin Pharmaceutical in the 2nd quarter worth approximately $31,000. Quent Capital LLC grew its holdings in BioMarin Pharmaceutical by 58.9% during the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 145 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in BioMarin Pharmaceutical during the 4th quarter valued at $43,000. Finally, AM Squared Ltd purchased a new stake in BioMarin Pharmaceutical during the 2nd quarter worth $66,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Sanford C. Bernstein cut their target price on BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday. William Blair upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. lifted their price target on BioMarin Pharmaceutical from $111.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Piper Sandler upped their price objective on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Finally, StockNews.com upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average target price of $98.84.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $71.41 on Friday. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average is $85.86 and its 200-day moving average is $84.40. The stock has a market cap of $13.56 billion, a PE ratio of 66.74, a price-to-earnings-growth ratio of 1.03 and a beta of 0.32. BioMarin Pharmaceutical Inc. has a twelve month low of $68.83 and a twelve month high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.38 by $0.39. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. The firm had revenue of $712.03 million for the quarter, compared to analysts’ expectations of $660.51 million. On average, analysts predict that BioMarin Pharmaceutical Inc. will post 2.4 earnings per share for the current year.

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.