3,569,831 Shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Bought by Norges Bank

Norges Bank bought a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,569,831 shares of the biotechnology company's stock, valued at approximately $234,645,000. Norges Bank owned 1.87% of BioMarin Pharmaceutical at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund increased its holdings in shares of BioMarin Pharmaceutical by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company's stock worth $2,546,000 after acquiring an additional 164 shares during the period. Fifth Third Bancorp grew its position 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 during the last quarter. TD Private Client Wealth LLC grew 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. First Hawaiian Bank increased its stake in shares of BioMarin Pharmaceutical by 1.4% in 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 period. Finally, Blue Trust Inc. raised its holdings in shares of BioMarin Pharmaceutical by 27.5% during the fourth quarter. Blue Trust Inc. now owns 1,095 shares of the biotechnology company's stock valued at $77,000 after buying an additional 236 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.

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BioMarin Pharmaceutical Stock Up 0.6 %

Shares of NASDAQ:BMRN traded up $0.38 during trading on Wednesday, reaching $68.32. 1,448,619 shares of the company traded hands, compared to its average volume of 1,843,927. BioMarin Pharmaceutical Inc. has a 1-year low of $60.63 and a 1-year high of $94.85. The firm has a fifty day simple moving average of $67.75 and a 200 day simple moving average of $67.30. 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 firm has a market cap of $13.03 billion, a P/E ratio of 31.05, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 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 net margin of 14.96% and a return on equity of 9.91%. Analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BMRN shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $90.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Bank of America raised their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Scotiabank upped their price objective on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a "sector perform" rating in a report on Thursday, February 20th. Oppenheimer upgraded shares of BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 target price for the company in a research report on Monday, February 24th. Finally, Citigroup boosted their price target 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. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of "Moderate Buy" and a consensus price target of $94.00.

Insiders Place Their Bets

In related news, CAO Erin Burkhart sold 1,344 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the completion of the transaction, the chief accounting officer now owns 13,105 shares of the company's stock, valued at approximately $896,119.90. The trade was a 9.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.85% of the company's stock.

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.