California State Teachers Retirement System Reduces Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

California State Teachers Retirement System lowered its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRNFree Report) by 1.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 280,920 shares of the biotechnology company’s stock after selling 3,387 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of BioMarin Pharmaceutical worth $27,086,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of BMRN. KB Financial Partners LLC increased its position in BioMarin Pharmaceutical by 51.3% during the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 118 shares in the last quarter. Lindbrook Capital LLC raised its position in shares of BioMarin Pharmaceutical by 259.8% in the fourth quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 278 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in shares of BioMarin Pharmaceutical by 135.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 249 shares during the period. First Horizon Advisors Inc. boosted its position in BioMarin Pharmaceutical by 33.3% during the fourth quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 144 shares during the last quarter. Finally, Allworth Financial LP grew its stake in BioMarin Pharmaceutical by 54.9% in the 4th quarter. Allworth Financial LP now owns 604 shares of the biotechnology company’s stock worth $58,000 after acquiring an additional 214 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Up 0.7 %

Shares of BioMarin Pharmaceutical stock opened at $79.67 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.74 and a quick ratio of 1.70. BioMarin Pharmaceutical Inc. has a 1-year low of $73.68 and a 1-year high of $99.56. The business has a 50-day moving average of $83.11 and a 200-day moving average of $88.19. The company has a market capitalization of $15.13 billion, a PE ratio of 74.46, a P/E/G ratio of 1.09 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.12. The company had revenue of $648.83 million for the quarter, compared to the consensus estimate of $649.75 million. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. As a group, equities analysts forecast that BioMarin Pharmaceutical Inc. will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP George Eric Davis sold 24,602 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $88.34, for a total value of $2,173,340.68. Following the sale, the executive vice president now owns 55,856 shares in the company, valued at approximately $4,934,319.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP George Eric Davis sold 24,602 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $88.34, for a total transaction of $2,173,340.68. Following the transaction, the executive vice president now directly owns 55,856 shares in the company, valued at $4,934,319.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jean Jacques Bienaime sold 20,000 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the sale, the director now owns 474,994 shares of the company’s stock, valued at approximately $43,347,952.44. The disclosure for this sale can be found here. Insiders have sold 114,588 shares of company stock worth $9,413,633 in the last ninety days. 1.85% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BMRN has been the subject of a number of recent analyst reports. Morgan Stanley lowered their price objective on BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday, April 26th. Canaccord Genuity Group dropped their price objective on shares of BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Scotiabank raised their target price on shares of BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 25th. Robert W. Baird lowered shares of BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $104.00 to $72.00 in a research report on Friday, May 17th. Finally, Evercore ISI started coverage on shares of BioMarin Pharmaceutical in a research note on Tuesday, May 14th. They set an “outperform” rating and a $113.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.11.

Read Our Latest Analysis on BMRN

About BioMarin Pharmaceutical

(Free Report)

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.

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Institutional Ownership by Quarter for BioMarin Pharmaceutical (NASDAQ:BMRN)

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