BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stake Lifted by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund increased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,738 shares of the biotechnology company’s stock after acquiring an additional 164 shares during the period. Oregon Public Employees Retirement Fund’s holdings in BioMarin Pharmaceutical were worth $2,546,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Erste Asset Management GmbH acquired a new position in BioMarin Pharmaceutical in the 3rd quarter worth approximately $48,527,000. Assenagon Asset Management S.A. boosted its stake in BioMarin Pharmaceutical by 461.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock worth $40,205,000 after purchasing an additional 502,695 shares during the period. Vestal Point Capital LP acquired a new position in BioMarin Pharmaceutical in the 3rd quarter worth approximately $28,116,000. Clearline Capital LP acquired a new position in BioMarin Pharmaceutical in the 3rd quarter worth approximately $22,477,000. Finally, Bellevue Group AG boosted its stake in BioMarin Pharmaceutical by 533.7% in the 3rd quarter. Bellevue Group AG now owns 330,976 shares of the biotechnology company’s stock worth $23,264,000 after purchasing an additional 278,744 shares during the period. 98.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Erin Burkhart sold 1,344 shares of BioMarin Pharmaceutical stock in a transaction on Monday, February 24th. The shares were sold at an average price of $68.38, for a total value of $91,902.72. Following the transaction, the chief accounting officer now owns 13,105 shares in the company, valued at $896,119.90. This trade represents a 9.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $69.12 on Friday. The company has a market capitalization of $13.17 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 0.61 and a beta of 0.28. BioMarin Pharmaceutical Inc. has a one year low of $60.63 and a one year high of $94.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The company’s fifty day moving average price is $65.19 and its 200 day moving average price is $70.46.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.54 by $0.18. The firm had revenue of $747.31 million for the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. As a group, analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. StockNews.com raised shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 22nd. Wolfe Research began coverage on shares of BioMarin Pharmaceutical in a research note on Friday, November 15th. They issued an “outperform” rating and a $95.00 price objective for the company. Citigroup lifted their target price on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Scotiabank lifted their target price on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus target price of $94.00.

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.