BioMarin Pharmaceutical Inc. $BMRN Shares Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS lifted its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 70,537 shares of the biotechnology company’s stock after purchasing an additional 1,200 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in BioMarin Pharmaceutical were worth $3,877,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of BMRN. V Square Quantitative Management LLC purchased a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $25,000. Farther Finance Advisors LLC grew its holdings in shares of BioMarin Pharmaceutical by 95.9% during the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 211 shares during the period. Rise Advisors LLC purchased a new stake in shares of BioMarin Pharmaceutical during the 1st quarter worth about $30,000. Brooklyn Investment Group grew its holdings in shares of BioMarin Pharmaceutical by 2,250.0% during the 1st quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 540 shares during the period. Finally, Banque Transatlantique SA purchased a new stake in shares of BioMarin Pharmaceutical during the 1st quarter worth about $71,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BMRN shares. Morgan Stanley decreased their target price on BioMarin Pharmaceutical from $97.00 to $96.00 and set an “overweight” rating for the company in a report on Tuesday, July 22nd. Wedbush reissued an “outperform” rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, August 5th. Wolfe Research set a $95.00 price target on BioMarin Pharmaceutical and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Weiss Ratings reissued a “sell (d+)” rating on shares of BioMarin Pharmaceutical in a research report on Wednesday. Finally, Zacks Research lowered BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.26.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $52.32 on Friday. The business’s 50 day moving average is $56.37 and its two-hundred day moving average is $58.19. BioMarin Pharmaceutical Inc. has a 52-week low of $51.78 and a 52-week high of $73.51. The firm has a market cap of $10.05 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 0.68 and a beta of 0.33. The company has a quick ratio of 3.60, a current ratio of 5.56 and a debt-to-equity ratio of 0.10.

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.