Public Employees Retirement Association of Colorado Sells 1,281 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Public Employees Retirement Association of Colorado trimmed its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 6.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,801 shares of the biotechnology company’s stock after selling 1,281 shares during the period. Public Employees Retirement Association of Colorado’s holdings in BioMarin Pharmaceutical were worth $1,630,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of BMRN. Innealta Capital LLC purchased a new position in BioMarin Pharmaceutical during the 2nd quarter worth $25,000. BOKF NA purchased a new stake in shares of BioMarin Pharmaceutical during the second quarter worth about $31,000. Quent Capital LLC increased its holdings in shares of BioMarin Pharmaceutical by 58.9% during the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 145 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $43,000. Finally, Scarborough Advisors LLC acquired a new stake in BioMarin Pharmaceutical in the 4th quarter worth approximately $71,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BMRN shares. Sanford C. Bernstein decreased their price target on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, September 17th. Bank of America cut their target price on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. William Blair raised BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Friday, August 30th. Royal Bank of Canada cut their price objective on BioMarin Pharmaceutical from $100.00 to $85.00 and set a “sector perform” rating on the stock in a report on Tuesday, September 17th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $93.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, September 13th. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.84.

BioMarin Pharmaceutical Trading Down 2.2 %

Shares of NASDAQ:BMRN opened at $69.13 on Tuesday. The firm has a market capitalization of $13.13 billion, a price-to-earnings ratio of 64.61, a price-to-earnings-growth ratio of 1.03 and a beta of 0.32. The business’s 50 day moving average price is $85.26 and its 200-day moving average price is $84.14. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 1.95. BioMarin Pharmaceutical Inc. has a 1 year low of $68.83 and a 1 year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results 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. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. The business had revenue of $712.03 million for the quarter, compared to analyst estimates of $660.51 million. On average, equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 2.4 earnings per share for the current fiscal year.

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.