293,277 Shares in BioMarin Pharmaceutical Inc. $BMRN Acquired by SEB Asset Management AB

SEB Asset Management AB acquired a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 293,277 shares of the biotechnology company’s stock, valued at approximately $16,567,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Activest Wealth Management acquired a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth $26,000. CIBC Private Wealth Group LLC grew its stake in 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 in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in BioMarin Pharmaceutical in the 3rd quarter valued at about $40,000. V Square Quantitative Management LLC bought a new position in BioMarin Pharmaceutical in the 4th quarter valued at about $45,000. Finally, Parallel Advisors LLC raised its position in shares of 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 buying an additional 295 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BMRN has been the topic of several analyst reports. Weiss Ratings upgraded shares of BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, June 26th. Morgan Stanley lowered their price objective on shares of BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating for the company in a research report on Tuesday, May 5th. Citigroup upped their target price on BioMarin Pharmaceutical from $75.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. The Goldman Sachs Group assumed coverage on BioMarin Pharmaceutical in a report on Monday, May 11th. They issued a “neutral” rating and a $69.00 target price on the stock. Finally, Sanford C. Bernstein decreased their price target on BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.26.

BioMarin Pharmaceutical Stock Down 0.8%

Shares of NASDAQ:BMRN opened at $59.11 on Tuesday. BioMarin Pharmaceutical Inc. has a 52-week low of $49.26 and a 52-week high of $66.28. The company has a market capitalization of $11.42 billion, a PE ratio of 43.15, a price-to-earnings-growth ratio of 0.45 and a beta of 0.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.20 and a current ratio of 5.81. The company has a fifty day moving average of $56.05 and a 200-day moving average of $56.83.

Insiders Place Their Bets

In other BioMarin Pharmaceutical 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 transaction, the executive vice president owned 51,818 shares of the company’s stock, valued at $2,790,399.30. This represents a 5.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.68% of the stock is owned by corporate insiders.

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.