California Public Employees Retirement System Sells 102,629 Shares of BioMarin Pharmaceutical Inc. $BMRN

California Public Employees Retirement System reduced its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 12.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 733,166 shares of the biotechnology company’s stock after selling 102,629 shares during the period. California Public Employees Retirement System owned 0.38% of BioMarin Pharmaceutical worth $40,302,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Rise Advisors LLC acquired a new position in BioMarin Pharmaceutical during the 1st quarter worth $30,000. V Square Quantitative Management LLC bought a new position in shares of BioMarin Pharmaceutical in the second quarter worth about $25,000. Brooklyn Investment Group lifted its position in shares of BioMarin Pharmaceutical by 2,250.0% during the 1st quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 540 shares during the last quarter. Hantz Financial Services Inc. lifted its position in shares of BioMarin Pharmaceutical by 480.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,056 shares of the biotechnology company’s stock worth $58,000 after purchasing an additional 874 shares during the last quarter. Finally, Employees Retirement System of Texas bought a new stake in BioMarin Pharmaceutical during the 2nd quarter valued at approximately $58,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

NASDAQ:BMRN opened at $53.70 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.10 and a current ratio of 4.83. The company has a 50-day moving average of $53.81 and a 200-day moving average of $55.82. BioMarin Pharmaceutical Inc. has a 52 week low of $50.76 and a 52 week high of $73.51. The company has a market capitalization of $10.32 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 0.90 and a beta of 0.30.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Monday, October 27th. The biotechnology company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.20). BioMarin Pharmaceutical had a net margin of 16.82% and a return on equity of 9.53%. The business had revenue of $776.13 million during the quarter, compared to the consensus estimate of $782.42 million. During the same period in the previous year, the firm earned $0.91 EPS. The business’s revenue was up 4.1% compared to the same quarter last year. BioMarin Pharmaceutical has set its FY 2025 guidance at 3.500-3.600 EPS. As a group, equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the company. HC Wainwright dropped their price target on BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Leerink Partnrs lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 3rd. JPMorgan Chase & Co. upped their target price on shares of BioMarin Pharmaceutical from $116.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Wells Fargo & Company reduced their price target on shares of BioMarin Pharmaceutical from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, October 28th. Finally, Leerink Partners downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $82.00 to $60.00 in a report on Wednesday, December 3rd. Sixteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.61.

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.