BioMarin Pharmaceutical Inc. (BMRN) Shares Sold by Rhenman & Partners Asset Management AB

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Rhenman & Partners Asset Management AB trimmed its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 33.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,549 shares of the biotechnology company’s stock after selling 88,300 shares during the quarter. BioMarin Pharmaceutical makes up about 1.7% of Rhenman & Partners Asset Management AB’s portfolio, making the stock its 22nd largest holding. Rhenman & Partners Asset Management AB owned about 0.10% of BioMarin Pharmaceutical worth $15,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in BMRN. Daiwa Securities Group Inc. boosted its stake in shares of BioMarin Pharmaceutical by 136.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 16,717 shares of the biotechnology company’s stock valued at $1,423,000 after purchasing an additional 9,650 shares during the last quarter. Comerica Securities Inc. boosted its stake in BioMarin Pharmaceutical by 23.9% during the fourth quarter. Comerica Securities Inc. now owns 3,197 shares of the biotechnology company’s stock worth $272,000 after acquiring an additional 617 shares in the last quarter. Schmidt P J Investment Management Inc. boosted its stake in BioMarin Pharmaceutical by 8.2% during the fourth quarter. Schmidt P J Investment Management Inc. now owns 6,333 shares of the biotechnology company’s stock worth $539,000 after acquiring an additional 480 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in BioMarin Pharmaceutical during the fourth quarter worth $51,000. Finally, Financial Gravity Companies Inc. bought a new position in BioMarin Pharmaceutical during the fourth quarter worth $206,000.

Several research analysts recently issued reports on BMRN shares. Cantor Fitzgerald reissued a “buy” rating and set a $126.00 target price on shares of BioMarin Pharmaceutical in a research note on Sunday, November 4th. Wedbush set a $127.00 target price on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Monday, October 29th. Raymond James increased their target price on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, October 26th. Canaccord Genuity increased their target price on shares of BioMarin Pharmaceutical from $113.00 to $116.00 and gave the stock a “buy” rating in a research note on Tuesday, October 23rd. Finally, Jefferies Financial Group increased their target price on shares of BioMarin Pharmaceutical to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, October 16th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $113.34.

BMRN opened at $94.28 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.26 and a current ratio of 2.87. BioMarin Pharmaceutical Inc. has a 1-year low of $75.81 and a 1-year high of $106.74. The firm has a market cap of $16.79 billion, a price-to-earnings ratio of -140.72 and a beta of 1.63.

In other news, EVP Jeffrey Robert Ajer sold 9,000 shares of the stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $92.15, for a total value of $829,350.00. Following the completion of the sale, the executive vice president now owns 58,135 shares in the company, valued at $5,357,140.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jean Jacques Bienaime sold 2,000 shares of the stock in a transaction dated Friday, December 14th. The shares were sold at an average price of $92.64, for a total transaction of $185,280.00. Following the completion of the sale, the chief executive officer now owns 290,290 shares of the company’s stock, valued at approximately $26,892,465.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,150 shares of company stock worth $3,799,080. Corporate insiders own 1.90% of the company’s stock.

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About BioMarin Pharmaceutical

BioMarin Pharmaceutical, Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.

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Institutional Ownership by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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