BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,050 shares of the biotechnology company’s stock after selling 1,705 shares during the quarter. Handelsbanken Fonder AB’s holdings in BioMarin Pharmaceutical were worth $8,683,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BMRN. KB Financial Partners LLC boosted its position in BioMarin Pharmaceutical by 51.3% during the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 118 shares during the period. Lindbrook Capital LLC boosted its position in BioMarin Pharmaceutical by 259.8% during the 4th quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 278 shares during the period. Castleview Partners LLC acquired a new position in BioMarin Pharmaceutical during the 3rd quarter valued at approximately $35,000. Allworth Financial LP boosted its position in BioMarin Pharmaceutical by 54.9% during the 4th quarter. Allworth Financial LP now owns 604 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 214 shares during the period. Finally, Signaturefd LLC boosted its position in BioMarin Pharmaceutical by 17.9% during the 3rd quarter. Signaturefd LLC now owns 1,283 shares of the biotechnology company’s stock valued at $114,000 after purchasing an additional 195 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Down 0.9 %

NASDAQ:BMRN opened at $91.20 on Thursday. The firm has a market capitalization of $17.21 billion, a price-to-earnings ratio of 103.64, a PEG ratio of 1.65 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a 1-year low of $76.02 and a 1-year high of $99.56. The company has a current ratio of 2.51, a quick ratio of 1.57 and a debt-to-equity ratio of 0.12. The business’s fifty day moving average price is $87.86 and its 200 day moving average price is $89.23.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.12. The firm had revenue of $648.83 million for the quarter, compared to analyst estimates of $649.75 million. BioMarin Pharmaceutical had a return on equity of 5.01% and a net margin of 6.93%. On average, sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 1.85 earnings per share for the current fiscal year.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, insider Henry J. Fuchs sold 35,341 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total value of $3,010,346.38. Following the transaction, the insider now owns 212,117 shares in the company, valued at $18,068,126.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 20,000 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $91.26, for a total value of $1,825,200.00. Following the transaction, the director now owns 474,994 shares in the company, valued at $43,347,952.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Henry J. Fuchs sold 35,341 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $85.18, for a total value of $3,010,346.38. Following the completion of the transaction, the insider now owns 212,117 shares in the company, valued at approximately $18,068,126.06. The disclosure for this sale can be found here. Insiders have sold 103,229 shares of company stock worth $9,062,967 over the last 90 days. 1.84% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Piper Sandler reduced their price objective on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Robert W. Baird dropped their price objective on BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 30th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $91.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 29th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus target price of $107.61.

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.