California Public Employees Retirement System Cuts Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

California Public Employees Retirement System decreased its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 849,865 shares of the biotechnology company’s stock after selling 2,932 shares during the period. California Public Employees Retirement System’s holdings in BioMarin Pharmaceutical were worth $55,862,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BMRN. Oregon Public Employees Retirement Fund increased its position in shares of BioMarin Pharmaceutical by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company’s stock valued at $2,546,000 after purchasing an additional 164 shares during the last quarter. Fifth Third Bancorp grew its position in BioMarin Pharmaceutical by 13.9% during the fourth quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company’s stock valued at $89,000 after acquiring an additional 165 shares during the last quarter. TD Private Client Wealth LLC grew its position in BioMarin Pharmaceutical by 57.4% during the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 186 shares during the last quarter. First Hawaiian Bank raised its stake in shares of BioMarin Pharmaceutical by 1.4% during the fourth quarter. First Hawaiian Bank now owns 14,700 shares of the biotechnology company’s stock worth $966,000 after acquiring an additional 200 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 27.5% in the 4th quarter. Blue Trust Inc. now owns 1,095 shares of the biotechnology company’s stock worth $77,000 after acquiring an additional 236 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Down 3.9 %

Shares of BioMarin Pharmaceutical stock opened at $67.94 on Wednesday. BioMarin Pharmaceutical Inc. has a 1 year low of $60.63 and a 1 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 has a 50-day moving average of $67.75 and a 200 day moving average of $67.30. The firm has a market cap of $12.96 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 0.61 and a beta of 0.33.

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

Analyst Ratings Changes

A number of brokerages recently commented on BMRN. Scotiabank lifted their target price on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Piper Sandler lifted their price objective on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Bank of America boosted their target price on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. StockNews.com lowered BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.00.

Insider Activity at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,295 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total transaction of $92,618.40. Following the transaction, the chief accounting officer now directly owns 16,955 shares of the company’s stock, valued at $1,212,621.60. This represents a 7.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.85% of the stock is owned by insiders.

About BioMarin Pharmaceutical

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.