Swiss National Bank Increases Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Swiss National Bank increased its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 563,600 shares of the biotechnology company’s stock after acquiring an additional 1,700 shares during the quarter. Swiss National Bank owned about 0.30% of BioMarin Pharmaceutical worth $39,615,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in shares of BioMarin Pharmaceutical by 1,858.6% during the 2nd quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company’s stock valued at $53,470,000 after purchasing an additional 616,301 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in BioMarin Pharmaceutical by 11,107.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 352,474 shares of the biotechnology company’s stock worth $29,019,000 after acquiring an additional 349,329 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of BioMarin Pharmaceutical by 122.1% in the 2nd quarter. Rhumbline Advisers now owns 551,553 shares of the biotechnology company’s stock valued at $45,409,000 after acquiring an additional 303,207 shares in the last quarter. Swedbank AB purchased a new stake in shares of BioMarin Pharmaceutical in the 1st quarter valued at about $25,864,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of BioMarin Pharmaceutical by 38.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company’s stock valued at $85,178,000 after acquiring an additional 289,953 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Insider Activity at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total transaction of $350,300.86. Following the sale, the executive vice president now owns 68,909 shares in the company, valued at approximately $4,573,490.33. The trade was a 7.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.85% of the stock is owned by corporate insiders.

BioMarin Pharmaceutical Stock Up 1.0 %

Shares of NASDAQ:BMRN opened at $62.56 on Thursday. The company has a market cap of $11.92 billion, a PE ratio of 37.46, a P/E/G ratio of 0.63 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a 1 year low of $61.15 and a 1 year high of $99.56. The stock’s 50-day moving average is $69.08 and its 200 day moving average is $78.70. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The company had revenue of $746.00 million during the quarter, compared to the consensus estimate of $703.37 million. During the same quarter last year, the firm earned $0.26 EPS. The business’s revenue was up 28.4% on a year-over-year basis. Sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.47 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BMRN. Wells Fargo & Company lowered their target price on shares of BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 17th. JPMorgan Chase & Co. cut their target price on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Raymond James restated an “outperform” rating and set a $79.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, October 10th. TD Cowen cut their price objective on BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, Robert W. Baird decreased their price objective on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, sixteen 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 a consensus rating of “Moderate Buy” and an average target price of $94.20.

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.