Rhenman & Partners Asset Management AB Has $12.78 Million Stake in BioMarin Pharmaceutical Inc. $BMRN

Rhenman & Partners Asset Management AB boosted its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 15.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,000 shares of the biotechnology company’s stock after buying an additional 28,350 shares during the quarter. Rhenman & Partners Asset Management AB owned approximately 0.11% of BioMarin Pharmaceutical worth $12,777,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of BMRN. Activest Wealth Management bought a new position in BioMarin Pharmaceutical in the 4th quarter valued at $26,000. CIBC Private Wealth Group LLC raised its position in BioMarin Pharmaceutical by 38.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 179 shares during the last quarter. Smartleaf Asset Management LLC raised its position in BioMarin Pharmaceutical by 92.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 360 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in BioMarin Pharmaceutical in the 3rd quarter valued at $40,000. Finally, Parallel Advisors LLC raised its position in BioMarin Pharmaceutical by 62.2% in the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 295 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BMRN. Jefferies Financial Group reiterated a “buy” rating and issued a $103.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, March 12th. Wolfe Research reiterated an “outperform” rating on shares of BioMarin Pharmaceutical in a research report on Monday, March 16th. Barclays lifted their price objective on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $66.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, May 5th. Finally, Weiss Ratings upgraded BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.67.

BioMarin Pharmaceutical Trading Up 0.7%

Shares of BMRN opened at $55.95 on Friday. The company has a quick ratio of 4.20, a current ratio of 5.81 and a debt-to-equity ratio of 0.23. BioMarin Pharmaceutical Inc. has a 12-month low of $49.26 and a 12-month high of $66.28. The firm has a market capitalization of $10.81 billion, a PE ratio of 40.84, a price-to-earnings-growth ratio of 0.42 and a beta of 0.25. The stock’s fifty day simple moving average is $54.35 and its 200-day simple moving average is $56.43.

Insider Buying and Selling

In related news, EVP Gregory R. Friberg sold 3,281 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $53.85, for a total value of $176,681.85. Following the completion of the sale, the executive vice president owned 51,818 shares in the company, valued at approximately $2,790,399.30. This represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Company 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.