Avanza Fonder AB Takes Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Avanza Fonder AB bought a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 16,156 shares of the biotechnology company's stock, valued at approximately $1,062,000.

Other institutional investors and hedge funds have also modified their holdings of the company. nVerses Capital LLC bought a new stake in BioMarin Pharmaceutical during the 3rd quarter worth about $28,000. TD Private Client Wealth LLC raised its position in BioMarin Pharmaceutical by 57.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company's stock worth $36,000 after purchasing an additional 186 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in BioMarin Pharmaceutical during the 2nd quarter worth $47,000. Meeder Asset Management Inc. boosted its position in BioMarin Pharmaceutical by 920.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company's stock valued at $52,000 after buying an additional 663 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of BioMarin Pharmaceutical by 56.1% in the 3rd quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company's stock valued at $55,000 after buying an additional 281 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of BioMarin Pharmaceutical stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the transaction, the executive vice president now owns 68,909 shares of the company's stock, valued at $4,573,490.33. This trade represents a 7.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.85% of the company's stock.

BioMarin Pharmaceutical Stock Up 0.5 %

BMRN traded up $0.28 during trading hours on Monday, hitting $61.53. 2,637,029 shares of the company's stock were exchanged, compared to its average volume of 1,070,618. The stock has a market cap of $11.73 billion, a price-to-earnings ratio of 36.84, a PEG ratio of 0.59 and a beta of 0.29. BioMarin Pharmaceutical Inc. has a 1-year low of $60.63 and a 1-year high of $94.85. The stock's 50-day moving average is $65.49 and its two-hundred day moving average is $74.29. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.23). The business had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The company's quarterly revenue was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 earnings per share. Sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 2.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BMRN has been the subject of several analyst reports. Evercore ISI lowered their price target on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an "outperform" rating for the company in a research report on Wednesday, October 30th. William Blair cut shares of BioMarin Pharmaceutical from an "outperform" rating to a "market perform" rating in a research report on Wednesday, October 30th. Citigroup reduced their price target on BioMarin Pharmaceutical from $93.00 to $81.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 30th. Wedbush upgraded BioMarin Pharmaceutical to a "strong-buy" rating in a report on Monday, November 4th. Finally, Wolfe Research initiated coverage on BioMarin Pharmaceutical in a research report on Friday, November 15th. They set an "outperform" rating and a $95.00 target price for the company. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $94.20.

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.