Skandinaviska Enskilda Banken AB publ Acquires 17,729 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 29.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 77,598 shares of the biotechnology company’s stock after acquiring an additional 17,729 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in BioMarin Pharmaceutical were worth $5,081,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BMRN. Janney Montgomery Scott LLC lifted its holdings in shares of BioMarin Pharmaceutical by 102.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 11,700 shares of the biotechnology company’s stock worth $822,000 after acquiring an additional 5,911 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth about $710,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 4.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 456,097 shares of the biotechnology company’s stock worth $32,059,000 after acquiring an additional 20,631 shares during the period. Metis Global Partners LLC lifted its holdings in shares of BioMarin Pharmaceutical by 9.7% during the 3rd quarter. Metis Global Partners LLC now owns 5,450 shares of the biotechnology company’s stock worth $383,000 after acquiring an additional 480 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in shares of BioMarin Pharmaceutical by 5.6% during the 3rd quarter. CIBC Asset Management Inc now owns 6,731 shares of the biotechnology company’s stock worth $473,000 after acquiring an additional 359 shares during the period. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Stock Down 1.6 %

Shares of NASDAQ BMRN opened at $69.44 on Friday. The stock has a market cap of $13.25 billion, a P/E ratio of 31.56, a P/E/G ratio of 0.61 and a beta of 0.33. The firm has a 50 day moving average price of $66.22 and a 200 day moving average price of $68.80. 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 52-week low of $60.63 and a 52-week high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.18. The company had revenue of $747.31 million during the quarter, compared to analysts’ expectations of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. Analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BMRN shares. StockNews.com raised shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Monday, March 10th. Bank of America lifted their price target 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. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, UBS Group lifted their price target 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. Seven equities 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.00.

Insider Activity

In other news, CAO Erin Burkhart sold 1,344 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $68.38, for a total value of $91,902.72. Following the sale, the chief accounting officer now owns 13,105 shares of the company’s stock, valued at $896,119.90. The trade was a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical 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.