Skandinaviska Enskilda Banken AB publ Has $2.34 Million Stake in BioMarin Pharmaceutical Inc. $BMRN

Skandinaviska Enskilda Banken AB publ reduced its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 51.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,275 shares of the biotechnology company’s stock after selling 45,423 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in BioMarin Pharmaceutical were worth $2,343,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BMRN. denkapparat Operations GmbH grew its holdings in shares of BioMarin Pharmaceutical by 45.1% in the 3rd quarter. denkapparat Operations GmbH now owns 11,068 shares of the biotechnology company’s stock valued at $599,000 after acquiring an additional 3,442 shares in the last quarter. M&G PLC boosted its position in BioMarin Pharmaceutical by 3.3% during the third quarter. M&G PLC now owns 204,840 shares of the biotechnology company’s stock valued at $11,061,000 after purchasing an additional 6,585 shares during the last quarter. State of New Jersey Common Pension Fund D grew its stake in BioMarin Pharmaceutical by 6.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 67,325 shares of the biotechnology company’s stock valued at $3,646,000 after purchasing an additional 4,049 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of BioMarin Pharmaceutical by 4.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 11,257 shares of the biotechnology company’s stock worth $610,000 after purchasing an additional 510 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in shares of BioMarin Pharmaceutical by 6.6% during the 3rd quarter. HighTower Advisors LLC now owns 42,530 shares of the biotechnology company’s stock worth $2,303,000 after purchasing an additional 2,636 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on BMRN shares. Piper Sandler cut their price objective on BioMarin Pharmaceutical from $122.00 to $84.00 and set an “overweight” rating for the company in a report on Friday, February 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of BioMarin Pharmaceutical in a research note on Monday, December 29th. Wells Fargo & Company lifted their price objective on shares of BioMarin Pharmaceutical from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday. Tudor Pickering set a $88.00 target price on shares of BioMarin Pharmaceutical in a report on Monday, November 3rd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $66.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Fifteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.14.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $64.08 on Friday. The company’s 50-day moving average is $58.09 and its 200-day moving average is $56.05. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.83 and a quick ratio of 3.10. The firm has a market capitalization of $12.31 billion, a PE ratio of 24.09, a PEG ratio of 0.70 and a beta of 0.26. BioMarin Pharmaceutical Inc. has a fifty-two week low of $50.76 and a fifty-two week high of $73.51.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.