Skandinaviska Enskilda Banken AB publ Has $5.08 Million Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Skandinaviska Enskilda Banken AB publ raised its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 29.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,598 shares of the biotechnology company's stock after purchasing an additional 17,729 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in BioMarin Pharmaceutical were worth $5,081,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its position in BioMarin Pharmaceutical by 102.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 11,700 shares of the biotechnology company's stock valued at $822,000 after acquiring an additional 5,911 shares during the period. Los Angeles Capital Management LLC acquired a new stake in BioMarin Pharmaceutical in the third quarter worth about $710,000. Sumitomo Mitsui Trust Group Inc. grew its position in BioMarin Pharmaceutical by 4.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 456,097 shares of the biotechnology company's stock valued at $32,059,000 after buying an additional 20,631 shares in the last quarter. Metis Global Partners LLC grew its position in BioMarin Pharmaceutical by 9.7% in the 3rd quarter. Metis Global Partners LLC now owns 5,450 shares of the biotechnology company's stock valued at $383,000 after buying an additional 480 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in BioMarin Pharmaceutical by 5.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,731 shares of the biotechnology company's stock valued at $473,000 after buying an additional 359 shares during the period. Institutional investors own 98.71% of the company's stock.

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BioMarin Pharmaceutical Stock Down 0.3 %

Shares of BMRN stock traded down $0.20 during trading on Wednesday, hitting $71.32. 1,799,252 shares of the company were exchanged, compared to its average volume of 1,772,828. The business's 50-day simple moving average is $66.38 and its 200 day simple moving average is $68.38. BioMarin Pharmaceutical Inc. has a twelve month low of $60.63 and a twelve month high of $94.85. The firm has a market capitalization of $13.61 billion, a price-to-earnings ratio of 32.42, 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 (NASDAQ:BMRN - Get Free Report) last issued its earnings results 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. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The company had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. As a group, analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BMRN. Bank of America increased their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Wedbush reissued an "outperform" rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. 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. Royal Bank of Canada reiterated a "sector perform" rating and issued a $70.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Finally, UBS Group raised their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $94.00.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,344 shares of BioMarin Pharmaceutical 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 sale, the chief accounting officer now directly owns 13,105 shares in the company, valued at $896,119.90. The trade was a 9.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.