Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Stake in BioMarin Pharmaceutical Inc. $BMRN

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 18.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,269 shares of the biotechnology company’s stock after purchasing an additional 14,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in BioMarin Pharmaceutical were worth $5,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in BioMarin Pharmaceutical during the first quarter valued at approximately $30,000. V Square Quantitative Management LLC purchased a new stake in BioMarin Pharmaceutical during the second quarter valued at approximately $25,000. Brooklyn Investment Group lifted its stake in BioMarin Pharmaceutical by 2,250.0% in the first 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 last quarter. Banque Transatlantique SA purchased a new stake in shares of BioMarin Pharmaceutical in the first quarter worth approximately $71,000. Finally, IFP Advisors Inc raised its holdings in shares of BioMarin Pharmaceutical by 1,382.2% in the second quarter. IFP Advisors Inc now owns 1,749 shares of the biotechnology company’s stock worth $96,000 after buying an additional 1,631 shares during the period. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Raymond James Financial initiated coverage on BioMarin Pharmaceutical in a research note on Wednesday, September 3rd. They issued an “outperform” rating and a $85.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on BioMarin Pharmaceutical from $116.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. Wall Street Zen cut BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 11th. HC Wainwright dropped their target price on BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Truist Financial dropped their target price on BioMarin Pharmaceutical from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday. Sixteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $90.70.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $51.91 on Friday. The firm has a market capitalization of $9.97 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 0.68 and a beta of 0.33. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.83 and a quick ratio of 3.60. BioMarin Pharmaceutical Inc. has a 1-year low of $51.10 and a 1-year high of $73.51. The company’s fifty day moving average price is $54.88 and its 200-day moving average price is $57.13.

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.