Forsta AP Fonden Sells 3,300 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Forsta AP Fonden lowered its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 9.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,000 shares of the biotechnology company’s stock after selling 3,300 shares during the quarter. Forsta AP Fonden’s holdings in BioMarin Pharmaceutical were worth $2,717,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. AMI Asset Management Corp raised its position in BioMarin Pharmaceutical by 51.9% in the first quarter. AMI Asset Management Corp now owns 346,189 shares of the biotechnology company’s stock worth $30,236,000 after acquiring an additional 118,230 shares during the period. Fisher Asset Management LLC bought a new position in BioMarin Pharmaceutical in the 4th quarter worth $1,301,000. APG Asset Management US Inc. purchased a new position in BioMarin Pharmaceutical during the fourth quarter valued at $3,462,000. Bridgewater Associates LP grew its holdings in BioMarin Pharmaceutical by 18.3% during the fourth quarter. Bridgewater Associates LP now owns 190,970 shares of the biotechnology company’s stock valued at $18,413,000 after purchasing an additional 29,576 shares during the period. Finally, Tidal Investments LLC increased its position in BioMarin Pharmaceutical by 65.5% in the first quarter. Tidal Investments LLC now owns 17,447 shares of the biotechnology company’s stock worth $1,524,000 after buying an additional 6,906 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $84.90 on Monday. The company has a fifty day simple moving average of $86.84 and a two-hundred day simple moving average of $84.82. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 52 week low of $73.68 and a 52 week high of $99.56. The firm has a market capitalization of $16.12 billion, a P/E ratio of 79.35, a price-to-earnings-growth ratio of 1.03 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.39. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. The business had revenue of $712.03 million for the quarter, compared to analysts’ expectations of $660.51 million. Analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BMRN. StockNews.com upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, September 5th. Sanford C. Bernstein upgraded shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $94.00 to $110.00 in a research note on Tuesday, August 20th. Truist Financial cut their price target on BioMarin Pharmaceutical from $140.00 to $118.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Finally, Scotiabank raised their price target on BioMarin Pharmaceutical from $86.00 to $95.00 and gave the company a “sector perform” rating in a report on Thursday, September 5th. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $106.11.

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.