KLP Kapitalforvaltning AS Makes New Investment in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

KLP Kapitalforvaltning AS bought a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 4th quarter, HoldingsChannel reports. The fund bought 66,737 shares of the biotechnology company’s stock, valued at approximately $4,387,000.

Several other institutional investors have also recently made changes to their positions in BMRN. TD Private Client Wealth LLC raised its position in BioMarin Pharmaceutical by 57.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 186 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth approximately $36,000. True Wealth Design LLC increased its stake in BioMarin Pharmaceutical by 13,400.0% in the third quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock worth $57,000 after purchasing an additional 804 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of BioMarin Pharmaceutical by 111.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company’s stock worth $58,000 after purchasing an additional 466 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of BioMarin Pharmaceutical by 260.1% during the fourth quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company’s stock valued at $67,000 after purchasing an additional 736 shares during the period. Institutional investors own 98.71% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Erin Burkhart sold 1,295 shares of BioMarin Pharmaceutical stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total transaction of $92,618.40. Following the completion of the sale, the chief accounting officer now directly owns 16,955 shares in the company, valued at approximately $1,212,621.60. The trade was a 7.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.85% of the stock is owned by insiders.

BioMarin Pharmaceutical Stock Down 0.6 %

BioMarin Pharmaceutical stock opened at $71.53 on Wednesday. BioMarin Pharmaceutical Inc. has a 1-year low of $60.63 and a 1-year high of $94.85. The business has a fifty day moving average price of $66.83 and a 200-day moving average price of $67.78. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The stock has a market capitalization of $13.65 billion, a price-to-earnings ratio of 32.51, a PEG ratio of 0.61 and a beta of 0.33.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results 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. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The business had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. Equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BMRN shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Citigroup lifted their price target on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Oppenheimer raised BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price objective on the stock in a research note on Monday, February 24th. Piper Sandler lifted their target price on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Finally, StockNews.com raised BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 18th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus target price of $94.00.

BioMarin Pharmaceutical Profile

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.