Rhenman & Partners Asset Management AB Has $10.11 Million Stock Position in BioMarin Pharmaceutical Inc. $BMRN

Rhenman & Partners Asset Management AB grew its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 24.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 186,650 shares of the biotechnology company’s stock after acquiring an additional 37,000 shares during the period. Rhenman & Partners Asset Management AB owned about 0.10% of BioMarin Pharmaceutical worth $10,109,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. NewEdge Advisors LLC raised its position in BioMarin Pharmaceutical by 11.5% during the 1st quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company’s stock worth $266,000 after purchasing an additional 388 shares during the last quarter. Empowered Funds LLC increased its stake in shares of BioMarin Pharmaceutical by 207.4% in the first quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock valued at $850,000 after buying an additional 8,112 shares during the period. Focus Partners Wealth raised its position in shares of BioMarin Pharmaceutical by 70.2% during the first quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock worth $835,000 after acquiring an additional 4,876 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in shares of BioMarin Pharmaceutical by 33.0% in the second quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company’s stock worth $244,000 after acquiring an additional 1,102 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in BioMarin Pharmaceutical by 15.4% in the second quarter. Envestnet Asset Management Inc. now owns 50,753 shares of the biotechnology company’s stock valued at $2,790,000 after acquiring an additional 6,777 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Up 0.9%

NASDAQ BMRN opened at $61.12 on Friday. The company has a quick ratio of 3.50, a current ratio of 5.21 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical Inc. has a 52 week low of $50.76 and a 52 week high of $73.51. The business has a 50 day moving average price of $58.92 and a 200-day moving average price of $56.27. The company has a market cap of $11.75 billion, a price-to-earnings ratio of 34.34, a P/E/G ratio of 0.53 and a beta of 0.25.

Analysts Set New Price Targets

Several research firms have issued reports on BMRN. Guggenheim lowered their price target on shares of BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Leerink Partners lowered shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $82.00 to $60.00 in a research note on Wednesday, December 3rd. Canaccord Genuity Group increased their price objective on shares of BioMarin Pharmaceutical from $98.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Weiss Ratings reissued a “sell (d)” rating on shares of BioMarin Pharmaceutical in a research note on Monday, December 29th. Finally, Stifel Nicolaus set a $68.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday, February 24th. Fifteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.64.

Insider Transactions at BioMarin Pharmaceutical

In related news, EVP Gregory R. Friberg sold 6,326 shares of BioMarin Pharmaceutical stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $60.38, for a total value of $381,963.88. Following the completion of the sale, the executive vice president owned 37,578 shares of the company’s stock, valued at approximately $2,268,959.64. This trade represents a 14.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.