BioMarin Pharmaceutical Inc. $BMRN Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 7.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 490,715 shares of the biotechnology company’s stock after selling 36,792 shares during the period. California Public Employees Retirement System owned approximately 0.25% of BioMarin Pharmaceutical worth $27,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Activest Wealth Management purchased a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth about $26,000. CIBC Private Wealth Group LLC raised its position in shares of BioMarin Pharmaceutical by 38.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 179 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in BioMarin Pharmaceutical in the 3rd quarter worth approximately $40,000. Parallel Advisors LLC grew its position in BioMarin Pharmaceutical by 62.2% during the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 295 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in BioMarin Pharmaceutical during the 4th quarter valued at approximately $45,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $53.85, for a total transaction of $176,681.85. Following the sale, the executive vice president directly owned 51,818 shares of the company’s stock, valued at approximately $2,790,399.30. This trade represents a 5.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.68% of the company’s stock.

BioMarin Pharmaceutical Trading Up 0.2%

Shares of BioMarin Pharmaceutical stock opened at $59.21 on Wednesday. The stock has a market cap of $11.44 billion, a PE ratio of 43.22, a price-to-earnings-growth ratio of 0.45 and a beta of 0.24. The firm has a fifty day moving average price of $56.18 and a 200 day moving average price of $56.83. BioMarin Pharmaceutical Inc. has a 1 year low of $49.26 and a 1 year high of $66.28. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.81 and a quick ratio of 4.20.

Analysts Set New Price Targets

BMRN has been the subject of several research reports. Royal Bank Of Canada lowered their price objective on shares of BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 7th. HC Wainwright reaffirmed a “neutral” rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, July 14th. The Goldman Sachs Group began coverage on BioMarin Pharmaceutical in a research note on Monday, May 11th. They set a “neutral” rating and a $69.00 price target on the stock. UBS Group reissued a “neutral” rating on shares of BioMarin Pharmaceutical in a report on Tuesday, July 14th. Finally, Morgan Stanley reduced their price objective on BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating for the company in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $88.26.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.