Swedbank AB Grows Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Swedbank AB grew its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 34.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 388,529 shares of the biotechnology company's stock after acquiring an additional 100,000 shares during the quarter. Swedbank AB owned about 0.20% of BioMarin Pharmaceutical worth $27,310,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Integrated Advisors Network LLC boosted its position in shares of BioMarin Pharmaceutical by 6.2% during the fourth quarter. Integrated Advisors Network LLC now owns 3,533 shares of the biotechnology company's stock valued at $341,000 after buying an additional 206 shares during the last quarter. Fisher Asset Management LLC purchased a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $1,301,000. SageView Advisory Group LLC purchased a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $264,000. Vanguard Group Inc. lifted its position in BioMarin Pharmaceutical by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 18,050,062 shares of the biotechnology company's stock valued at $1,740,387,000 after purchasing an additional 348,852 shares during the period. Finally, Gateway Investment Advisers LLC boosted its holdings in BioMarin Pharmaceutical by 65.2% in the first quarter. Gateway Investment Advisers LLC now owns 21,320 shares of the biotechnology company's stock worth $1,862,000 after purchasing an additional 8,415 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BMRN shares. Barclays lowered their price target on BioMarin Pharmaceutical from $110.00 to $86.00 and set an "overweight" rating on the stock in a report on Friday, October 4th. Scotiabank lowered their target price on BioMarin Pharmaceutical from $95.00 to $78.00 and set a "sector perform" rating on the stock in a report on Tuesday, September 17th. Canaccord Genuity Group restated a "hold" rating and set a $93.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, September 13th. Evercore ISI increased their price objective on shares of BioMarin Pharmaceutical from $113.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, September 5th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.40.

BioMarin Pharmaceutical Price Performance

NASDAQ BMRN traded down $0.69 on Thursday, reaching $69.47. The company had a trading volume of 933,128 shares, compared to its average volume of 1,861,106. The stock has a market capitalization of $13.19 billion, a PE ratio of 64.93, a price-to-earnings-growth ratio of 0.81 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a 12 month low of $67.75 and a 12 month high of $99.56. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11. The firm's 50 day moving average price is $80.22 and its 200 day moving average price is $82.25.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, topping 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. As a group, equities analysts predict that BioMarin Pharmaceutical Inc. will post 2.39 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.