Handelsbanken Fonder AB Sells 1,705 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Handelsbanken Fonder AB lowered its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 90,050 shares of the biotechnology company’s stock after selling 1,705 shares during the period. Handelsbanken Fonder AB’s holdings in BioMarin Pharmaceutical were worth $8,683,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Barclays PLC grew its holdings in BioMarin Pharmaceutical by 31.6% during the third quarter. Barclays PLC now owns 5,573,157 shares of the biotechnology company’s stock worth $493,111,000 after purchasing an additional 1,336,886 shares during the period. Ameriprise Financial Inc. grew its holdings in BioMarin Pharmaceutical by 5.6% during the third quarter. Ameriprise Financial Inc. now owns 5,163,949 shares of the biotechnology company’s stock worth $456,906,000 after purchasing an additional 275,436 shares during the period. Fort Washington Investment Advisors Inc. OH grew its holdings in BioMarin Pharmaceutical by 10.7% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 1,308,245 shares of the biotechnology company’s stock worth $115,754,000 after purchasing an additional 126,680 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in BioMarin Pharmaceutical by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,304,797 shares of the biotechnology company’s stock worth $115,448,000 after purchasing an additional 33,592 shares during the period. Finally, Northern Trust Corp grew its holdings in BioMarin Pharmaceutical by 3.7% during the third quarter. Northern Trust Corp now owns 1,219,814 shares of the biotechnology company’s stock worth $107,929,000 after purchasing an additional 43,695 shares during the period. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Down 0.9 %

Shares of BMRN opened at $91.20 on Thursday. BioMarin Pharmaceutical Inc. has a one year low of $76.02 and a one year high of $99.56. The company has a market cap of $17.21 billion, a P/E ratio of 103.64, a P/E/G ratio of 1.65 and a beta of 0.31. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.51 and a quick ratio of 1.57. The firm has a 50 day simple moving average of $87.86 and a two-hundred day simple moving average of $89.23.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.37 by $0.12. BioMarin Pharmaceutical had a net margin of 6.93% and a return on equity of 5.01%. The business had revenue of $648.83 million during the quarter, compared to the consensus estimate of $649.75 million. Research analysts forecast that BioMarin Pharmaceutical Inc. will post 1.85 EPS for the current fiscal year.

Insider Transactions at BioMarin Pharmaceutical

In other news, Director Jean Jacques Bienaime sold 15,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $88.28, for a total transaction of $1,324,200.00. Following the completion of the transaction, the director now directly owns 419,602 shares in the company, valued at $37,042,464.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Jean Jacques Bienaime sold 15,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $88.28, for a total transaction of $1,324,200.00. Following the completion of the transaction, the director now directly owns 419,602 shares in the company, valued at $37,042,464.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Erin Burkhart sold 2,286 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total transaction of $205,740.00. Following the transaction, the chief accounting officer now owns 16,156 shares of the company’s stock, valued at $1,454,040. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,229 shares of company stock worth $9,062,967. Corporate insiders own 1.84% of the company’s stock.

Analyst Upgrades and Downgrades

BMRN has been the subject of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Canaccord Genuity Group restated a “hold” rating and set a $91.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 29th. 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 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 report on Friday, February 23rd. Finally, Robert W. Baird reduced their price objective on BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating for the company in a report on Tuesday, January 30th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.61.

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.