Swedbank AB Increases Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Swedbank AB boosted its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 34.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 388,529 shares of the biotechnology company’s stock after purchasing an additional 100,000 shares during the quarter. Swedbank AB owned approximately 0.20% of BioMarin Pharmaceutical worth $27,310,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BMRN. Innealta Capital LLC bought a new position in shares of BioMarin Pharmaceutical during the second quarter valued at $25,000. BOKF NA purchased a new position in BioMarin Pharmaceutical in the second quarter worth about $31,000. Quent Capital LLC boosted its position in BioMarin Pharmaceutical by 58.9% in the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 145 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in BioMarin Pharmaceutical in the second quarter worth about $47,000. Finally, GAMMA Investing LLC boosted its position in BioMarin Pharmaceutical by 56.1% in the third quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 281 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BMRN shares. Evercore ISI raised their target price on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. Stifel Nicolaus lowered their price objective on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Sanford C. Bernstein lowered their price objective on BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 17th. Bank of America lowered their price objective on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Finally, Scotiabank dropped their price objective on shares of BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating for the company in a report on Tuesday, September 17th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average target price of $96.40.

BioMarin Pharmaceutical Stock Down 0.4 %

BMRN stock opened at $70.16 on Thursday. The company has a market cap of $13.32 billion, a price-to-earnings ratio of 65.57, a PEG ratio of 0.81 and a beta of 0.31. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 12 month low of $67.75 and a 12 month high of $99.56. The firm has a 50-day moving average of $80.22 and a two-hundred day moving average of $82.25.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.39. The company had revenue of $712.03 million during the quarter, compared to the consensus estimate of $660.51 million. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. As a group, analysts forecast that BioMarin Pharmaceutical Inc. will post 2.39 earnings per share for the current fiscal year.

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.