KLP Kapitalforvaltning AS Takes $4.39 Million Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

KLP Kapitalforvaltning AS bought a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 66,737 shares of the biotechnology company's stock, valued at approximately $4,387,000.

Several other large investors have also modified their holdings of BMRN. TD Private Client Wealth LLC increased its position in BioMarin Pharmaceutical by 57.4% during the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company's stock worth $36,000 after buying an additional 186 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of BioMarin Pharmaceutical during the fourth quarter worth approximately $36,000. True Wealth Design LLC increased its holdings in shares of BioMarin Pharmaceutical by 13,400.0% in the 3rd quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company's stock valued at $57,000 after acquiring an additional 804 shares during the period. Smartleaf Asset Management LLC raised its position in BioMarin Pharmaceutical by 111.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company's stock valued at $58,000 after purchasing an additional 466 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in BioMarin Pharmaceutical by 260.1% during the 4th quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company's stock worth $67,000 after purchasing an additional 736 shares during the period. Institutional investors and hedge funds own 98.71% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on BMRN. StockNews.com upgraded shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, March 18th. UBS Group lifted their target price on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Citigroup upped their target price on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Piper Sandler raised their price target on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Finally, Scotiabank lifted their target price on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $94.00.

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Insiders Place Their Bets

In related news, CAO Erin Burkhart sold 1,344 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $68.38, for a total value of $91,902.72. Following the completion of the sale, the chief accounting officer now owns 13,105 shares of the company's stock, valued at $896,119.90. This represents a 9.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.85% of the stock is currently owned by corporate insiders.

BioMarin Pharmaceutical Stock Down 1.9 %

Shares of NASDAQ:BMRN traded down $1.39 during midday trading on Friday, hitting $71.44. 1,245,485 shares of the company's stock traded hands, compared to its average volume of 1,843,958. The company has a market cap of $13.63 billion, a PE ratio of 32.47, a P/E/G ratio of 0.61 and a beta of 0.33. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. BioMarin Pharmaceutical Inc. has a twelve month low of $60.63 and a twelve month high of $94.85. The firm's fifty day moving average price is $67.46 and its two-hundred day moving average price is $67.63.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 14.96% and a return on equity of 9.91%. On average, equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

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.