Texas Permanent School Fund Corp Invests $2.19 Million in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Texas Permanent School Fund Corp acquired a new position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 26,646 shares of the biotechnology company’s stock, valued at approximately $2,194,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AMI Asset Management Corp grew its stake in shares of BioMarin Pharmaceutical by 51.9% in the 1st quarter. AMI Asset Management Corp now owns 346,189 shares of the biotechnology company’s stock worth $30,236,000 after buying an additional 118,230 shares during the last quarter. Fisher Asset Management LLC bought a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at $1,301,000. APG Asset Management US Inc. purchased a new position in shares of BioMarin Pharmaceutical in the 4th quarter worth about $3,462,000. Bridgewater Associates LP boosted its stake in BioMarin Pharmaceutical by 18.3% in the 4th quarter. Bridgewater Associates LP now owns 190,970 shares of the biotechnology company’s stock worth $18,413,000 after purchasing an additional 29,576 shares in the last quarter. Finally, Tidal Investments LLC grew its position in BioMarin Pharmaceutical by 65.5% during the 1st quarter. Tidal Investments LLC now owns 17,447 shares of the biotechnology company’s stock valued at $1,524,000 after purchasing an additional 6,906 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Up 1.0 %

Shares of NASDAQ:BMRN opened at $70.55 on Wednesday. The company has a market cap of $13.40 billion, a price-to-earnings ratio of 65.93, a PEG ratio of 1.03 and a beta of 0.32. BioMarin Pharmaceutical Inc. has a 12 month low of $68.83 and a 12 month high of $99.56. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average price of $86.33 and a 200 day moving average price of $84.59.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.39. The business had revenue of $712.03 million during the quarter, compared to analyst estimates of $660.51 million. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. As a group, equities research analysts predict that BioMarin Pharmaceutical Inc. will post 2.4 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. TD Cowen dropped their target price on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Sanford C. Bernstein cut their target price on BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday. William Blair raised BioMarin Pharmaceutical to a “strong-buy” rating in a report on Friday, August 30th. Royal Bank of Canada lowered their price target on BioMarin Pharmaceutical from $100.00 to $85.00 and set a “sector perform” rating on the stock in a report on Tuesday. Finally, StockNews.com upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.90.

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.