California Public Employees Retirement System Trims Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

California Public Employees Retirement System cut its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,149,676 shares of the biotechnology company’s stock after selling 13,087 shares during the period. California Public Employees Retirement System owned about 0.61% of BioMarin Pharmaceutical worth $110,852,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Barclays PLC increased its stake in BioMarin Pharmaceutical by 31.6% during the third quarter. Barclays PLC now owns 5,573,157 shares of the biotechnology company’s stock worth $493,111,000 after purchasing an additional 1,336,886 shares during the period. Ameriprise Financial Inc. grew its position in shares of BioMarin Pharmaceutical by 5.6% during the third quarter. Ameriprise Financial Inc. now owns 5,163,949 shares of the biotechnology company’s stock worth $456,906,000 after buying an additional 275,436 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its position in shares of BioMarin Pharmaceutical by 10.7% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 1,308,245 shares of the biotechnology company’s stock worth $115,754,000 after buying an additional 126,680 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of BioMarin Pharmaceutical by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,304,797 shares of the biotechnology company’s stock worth $115,448,000 after buying an additional 33,592 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of BioMarin Pharmaceutical by 3.7% during the third quarter. Northern Trust Corp now owns 1,219,814 shares of the biotechnology company’s stock worth $107,929,000 after buying an additional 43,695 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BMRN has been the subject of a number of analyst reports. Robert W. Baird lowered their price objective on BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating for the company in a research report on Tuesday, January 30th. Canaccord Genuity Group reissued a “hold” rating and set a $91.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Piper Sandler lowered their price target on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.61.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $92.06 on Wednesday. BioMarin Pharmaceutical Inc. has a 12 month low of $76.02 and a 12 month high of $99.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.51 and a quick ratio of 1.57. The business has a 50 day simple moving average of $87.76 and a 200-day simple moving average of $89.21. The stock has a market capitalization of $17.37 billion, a PE ratio of 104.61, a price-to-earnings-growth ratio of 1.65 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.44 by $0.05. The business had revenue of $646.21 million during the quarter, compared to analysts’ expectations of $639.53 million. BioMarin Pharmaceutical had a return on equity of 5.01% and a net margin of 6.93%. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 earnings per share. Equities analysts predict that BioMarin Pharmaceutical Inc. will post 1.85 earnings per share for the current year.

Insider Activity

In related news, Director Jean Jacques Bienaime sold 15,000 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $88.28, for a total transaction of $1,324,200.00. Following the sale, the director now owns 419,602 shares of the company’s stock, valued at $37,042,464.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 15,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $88.28, for a total value of $1,324,200.00. Following the sale, the director now directly owns 419,602 shares of the company’s stock, valued at approximately $37,042,464.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Henry J. Fuchs sold 35,341 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total value of $3,010,346.38. Following the completion of the sale, the insider now directly owns 212,117 shares in the company, valued at $18,068,126.06. The disclosure for this sale can be found here. Insiders sold a total of 103,229 shares of company stock worth $9,062,967 over the last 90 days. 1.84% of the stock is currently owned by corporate insiders.

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.