Strs Ohio Takes Position in BioMarin Pharmaceutical Inc. $BMRN

Strs Ohio bought a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 16,000 shares of the biotechnology company’s stock, valued at approximately $1,131,000.

Several other institutional investors have also recently made changes to their positions in BMRN. Focus Partners Wealth increased its holdings in BioMarin Pharmaceutical by 70.2% in the 1st quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock worth $835,000 after acquiring an additional 4,876 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in BioMarin Pharmaceutical in the 1st quarter worth $552,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in BioMarin Pharmaceutical by 0.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,064,924 shares of the biotechnology company’s stock worth $75,279,000 after acquiring an additional 9,837 shares in the last quarter. Empowered Funds LLC increased its holdings in BioMarin Pharmaceutical by 207.4% in the 1st quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock worth $850,000 after acquiring an additional 8,112 shares in the last quarter. Finally, Fred Alger Management LLC boosted its stake in BioMarin Pharmaceutical by 11.3% during the 1st quarter. Fred Alger Management LLC now owns 28,803 shares of the biotechnology company’s stock worth $2,036,000 after purchasing an additional 2,933 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Trading Up 1.4%

NASDAQ BMRN opened at $55.14 on Friday. The firm’s 50-day moving average is $57.67 and its two-hundred day moving average is $60.06. BioMarin Pharmaceutical Inc. has a 12 month low of $52.93 and a 12 month high of $73.51. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.60. The stock has a market capitalization of $10.59 billion, a P/E ratio of 16.36, a PEG ratio of 0.69 and a beta of 0.35.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wall Street Zen raised shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 13th. Guggenheim lifted their target price on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Wolfe Research set a $95.00 target price on shares of BioMarin Pharmaceutical and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Wedbush reaffirmed an “outperform” rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, August 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday, July 14th. Fourteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and an average target price of $92.60.

BioMarin Pharmaceutical Company 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.