Rhenman & Partners Asset Management AB Decreases Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Rhenman & Partners Asset Management AB decreased its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 31.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 250,623 shares of the biotechnology company's stock after selling 113,877 shares during the quarter. BioMarin Pharmaceutical makes up 1.7% of Rhenman & Partners Asset Management AB's investment portfolio, making the stock its 22nd biggest holding. Rhenman & Partners Asset Management AB owned approximately 0.13% of BioMarin Pharmaceutical worth $16,473,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund lifted its stake in BioMarin Pharmaceutical by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company's stock valued at $2,546,000 after acquiring an additional 164 shares in the last quarter. Fifth Third Bancorp lifted its stake in BioMarin Pharmaceutical by 13.9% in the 4th quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company's stock worth $89,000 after purchasing an additional 165 shares in the last quarter. TD Private Client Wealth LLC increased its stake 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 acquiring an additional 186 shares during the last quarter. First Hawaiian Bank lifted its position in 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 during the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in shares of BioMarin Pharmaceutical by 64.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock valued at $41,000 after purchasing an additional 233 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BMRN. Oppenheimer upgraded BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price objective for the company in a report on Monday, February 24th. Piper Sandler boosted their price objective on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Bank of America lifted their target price on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.00.

BioMarin Pharmaceutical Stock Down 6.0 %

BMRN traded down $3.57 during trading hours on Thursday, hitting $55.86. 806,534 shares of the company's stock were exchanged, compared to its average volume of 1,880,729. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. The stock's 50-day moving average is $67.44 and its two-hundred day moving average is $66.80. The stock has a market cap of $10.66 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 0.61 and a beta of 0.30. BioMarin Pharmaceutical Inc. has a 1-year low of $52.93 and a 1-year high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.18. The company had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. Sell-side analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 13,105 shares in the company, valued at $896,119.90. This represents a 9.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.85% of the stock is owned by insiders.

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.