DNB Asset Management AS Increases Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

DNB Asset Management AS raised its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Get Rating) by 290.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 471,971 shares of the biotechnology company’s stock after purchasing an additional 351,136 shares during the quarter. DNB Asset Management AS owned 0.25% of BioMarin Pharmaceutical worth $48,844,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BMRN. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 225.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 16,838 shares of the biotechnology company’s stock valued at $1,298,000 after buying an additional 11,672 shares during the period. American Century Companies Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 64.6% in the 1st quarter. American Century Companies Inc. now owns 11,312 shares of the biotechnology company’s stock valued at $872,000 after buying an additional 4,440 shares during the period. Cetera Advisor Networks LLC lifted its holdings in shares of BioMarin Pharmaceutical by 38.3% in the 1st quarter. Cetera Advisor Networks LLC now owns 5,525 shares of the biotechnology company’s stock valued at $426,000 after buying an additional 1,530 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 14.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,362 shares of the biotechnology company’s stock valued at $644,000 after buying an additional 1,055 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in shares of BioMarin Pharmaceutical by 395.4% in the 1st quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 344 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Brian Mueller sold 2,500 shares of BioMarin Pharmaceutical stock in a transaction on Friday, January 13th. The stock was sold at an average price of $114.50, for a total value of $286,250.00. Following the completion of the sale, the chief financial officer now owns 27,746 shares of the company’s stock, valued at $3,176,917. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 15,000 shares of the business’s stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $92.28, for a total transaction of $1,384,200.00. Following the completion of the sale, the chief executive officer now owns 487,856 shares of the company’s stock, valued at $45,019,351.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brian Mueller sold 2,500 shares of the business’s stock in a transaction dated Friday, January 13th. The shares were sold at an average price of $114.50, for a total value of $286,250.00. Following the sale, the chief financial officer now directly owns 27,746 shares of the company’s stock, valued at approximately $3,176,917. The disclosure for this sale can be found here. Insiders sold a total of 115,500 shares of company stock valued at $12,607,900 over the last quarter. Company insiders own 1.75% of the company’s stock.

BioMarin Pharmaceutical Trading Down 1.9 %

Shares of NASDAQ:BMRN traded down $1.74 during midday trading on Friday, reaching $91.67. The company’s stock had a trading volume of 1,758,429 shares, compared to its average volume of 1,712,208. The firm has a market cap of $17.10 billion, a price-to-earnings ratio of 123.88 and a beta of 0.39. The company has a quick ratio of 3.15, a current ratio of 4.67 and a debt-to-equity ratio of 0.24. BioMarin Pharmaceutical Inc. has a 1 year low of $70.73 and a 1 year high of $117.77. The business has a 50 day moving average price of $106.01 and a 200 day moving average price of $97.62.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BMRN. Jefferies Financial Group raised their price target on BioMarin Pharmaceutical from $100.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, November 29th. BMO Capital Markets reduced their price objective on BioMarin Pharmaceutical from $107.00 to $102.00 and set a “market perform” rating for the company in a report on Tuesday, March 7th. Evercore ISI lifted their price objective on BioMarin Pharmaceutical to $130.00 in a report on Friday, December 2nd. Canaccord Genuity Group reduced their price objective on BioMarin Pharmaceutical from $119.00 to $112.00 and set a “hold” rating for the company in a report on Tuesday, February 28th. Finally, SVB Leerink lifted their price objective on BioMarin Pharmaceutical from $122.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $120.11.

About BioMarin Pharmaceutical

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BioMarin Pharmaceutical, Inc engages in the development and commercialization of therapies for people with serious and life-threatening rare diseases and medical conditions. Its pipeline products include Valoctocogene roxaparvovec, Vosoritide, and BMN 307. The company was founded by John C. Klock, Christopher M.