Swedbank AB Has $28.40 Million Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Swedbank AB boosted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 11.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 432,122 shares of the biotechnology company's stock after purchasing an additional 43,593 shares during the quarter. Swedbank AB owned approximately 0.23% of BioMarin Pharmaceutical worth $28,403,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its position in shares of BioMarin Pharmaceutical by 13.9% during the fourth quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company's stock worth $89,000 after buying an additional 165 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of BioMarin Pharmaceutical by 0.8% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company's stock worth $1,483,000 after purchasing an additional 173 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of BioMarin Pharmaceutical by 1.6% in the third quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company's stock worth $805,000 after purchasing an additional 180 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in shares of BioMarin Pharmaceutical by 57.4% during the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company's stock valued at $36,000 after purchasing an additional 186 shares during the period. Finally, First Hawaiian Bank raised its stake in shares of BioMarin Pharmaceutical by 1.4% during the fourth quarter. First Hawaiian Bank now owns 14,700 shares of the biotechnology company's stock valued at $966,000 after purchasing an additional 200 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Stock Down 1.4 %

Shares of BioMarin Pharmaceutical stock traded down $0.88 during midday trading on Monday, reaching $62.48. 561,395 shares of the company's stock traded hands, compared to its average volume of 1,676,147. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. The company has a market cap of $11.91 billion, a price-to-earnings ratio of 37.49, a price-to-earnings-growth ratio of 0.55 and a beta of 0.29. BioMarin Pharmaceutical Inc. has a 52 week low of $60.63 and a 52 week high of $94.85. The company's 50 day simple moving average is $65.15 and its 200 day simple moving average is $72.82.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Royal Bank of Canada reissued a "sector perform" rating and set a $80.00 target price on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 30th. Cantor Fitzgerald restated an "overweight" rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, December 12th. Citigroup decreased their price target on BioMarin Pharmaceutical from $93.00 to $81.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th. Raymond James restated an "outperform" rating and issued a $79.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, October 10th. Finally, Wedbush raised BioMarin Pharmaceutical to a "strong-buy" rating in a report on Monday, November 4th. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $94.20.

Insiders Place Their Bets

In related news, EVP Charles Greg Guyer sold 5,278 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total value of $350,300.86. Following the transaction, the executive vice president now directly owns 68,909 shares of the company's stock, valued at approximately $4,573,490.33. This trade represents a 7.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.85% of the company's stock.

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.