Handelsbanken Fonder AB Has $3.21 Million Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Handelsbanken Fonder AB reduced its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 60.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,900 shares of the biotechnology company’s stock after selling 75,122 shares during the quarter. Handelsbanken Fonder AB’s holdings in BioMarin Pharmaceutical were worth $3,214,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Ieq Capital LLC raised its holdings in shares of BioMarin Pharmaceutical by 744.8% during the 4th quarter. Ieq Capital LLC now owns 60,287 shares of the biotechnology company’s stock worth $3,963,000 after buying an additional 53,151 shares in the last quarter. Alberta Investment Management Corp acquired a new position in shares of BioMarin Pharmaceutical during the fourth quarter worth $3,839,000. Global Retirement Partners LLC boosted its holdings in shares of BioMarin Pharmaceutical by 18.5% during the 4th quarter. Global Retirement Partners LLC now owns 2,708 shares of the biotechnology company’s stock valued at $178,000 after acquiring an additional 422 shares in the last quarter. D.A. Davidson & CO. bought a new position in BioMarin Pharmaceutical in the fourth quarter valued at about $495,000. Finally, CIBC Asset Management Inc raised its holdings in BioMarin Pharmaceutical by 13.8% in the 4th quarter. CIBC Asset Management Inc now owns 7,657 shares of the biotechnology company’s stock valued at $503,000 after buying an additional 926 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $69.00 on Tuesday. The company has a market capitalization of $13.15 billion, a P/E ratio of 31.36, a P/E/G ratio of 0.61 and a beta of 0.28. The business has a fifty day simple moving average of $64.95 and a two-hundred day simple moving average of $70.61. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. BioMarin Pharmaceutical Inc. has a 1 year low of $60.63 and a 1 year high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.18. The company had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. On average, analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

BMRN has been the topic of several recent research reports. StockNews.com raised BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Saturday. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Oppenheimer upgraded shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price objective on the stock in a report on Monday. Canaccord Genuity Group cut their target price on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Finally, Wolfe Research assumed coverage on BioMarin Pharmaceutical in a research note on Friday, November 15th. They set an “outperform” rating and a $95.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $94.00.

About BioMarin Pharmaceutical

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.