Rhenman & Partners Asset Management AB Buys 28,350 Shares of BioMarin Pharmaceutical Inc. $BMRN

Rhenman & Partners Asset Management AB boosted its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 15.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 215,000 shares of the biotechnology company’s stock after purchasing an additional 28,350 shares during the quarter. Rhenman & Partners Asset Management AB’s holdings in BioMarin Pharmaceutical were worth $12,777,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC boosted its position in shares of BioMarin Pharmaceutical by 38.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after buying an additional 179 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its position in shares of BioMarin Pharmaceutical by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 42,982 shares of the biotechnology company’s stock worth $2,554,000 after buying an additional 183 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of BioMarin Pharmaceutical by 7.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,741 shares of the biotechnology company’s stock worth $163,000 after buying an additional 195 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of BioMarin Pharmaceutical by 3.4% during the third quarter. EverSource Wealth Advisors LLC now owns 7,151 shares of the biotechnology company’s stock worth $387,000 after buying an additional 235 shares during the period. Finally, Davis Investment Partners LLC boosted its position in shares of BioMarin Pharmaceutical by 3.1% during the fourth quarter. Davis Investment Partners LLC now owns 8,031 shares of the biotechnology company’s stock worth $477,000 after buying an additional 243 shares during the period. Institutional investors own 98.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Citigroup assumed coverage on BioMarin Pharmaceutical in a research report on Tuesday, May 19th. They set a “buy” rating and a $75.00 price target for the company. Wall Street Zen cut BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Canaccord Genuity Group reduced their price target on BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. Stifel Nicolaus set a $68.00 price target on BioMarin Pharmaceutical in a research report on Tuesday, February 24th. Finally, Loop Capital set a $105.00 price target on BioMarin Pharmaceutical in a research report on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus target price of $88.67.

BioMarin Pharmaceutical Price Performance

NASDAQ: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. The stock’s 50 day moving average price is $54.35 and its two-hundred day moving average price is $56.43. The firm has a market capitalization of $10.81 billion, a price-to-earnings ratio of 40.84, a P/E/G ratio of 0.42 and a beta of 0.25. BioMarin Pharmaceutical Inc. has a 12-month low of $49.26 and a 12-month high of $66.28.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $53.85, for a total value of $176,681.85. Following the sale, the executive vice president owned 51,818 shares in the company, valued at $2,790,399.30. This represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.85% of the stock is owned by corporate insiders.

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.