Kentucky Retirement Systems Takes $911,000 Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Kentucky Retirement Systems bought a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,890 shares of the biotechnology company's stock, valued at approximately $911,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BMRN. Farther Finance Advisors LLC boosted its holdings in shares of BioMarin Pharmaceutical by 95.9% during the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock worth $29,000 after buying an additional 211 shares in the last quarter. LRI Investments LLC boosted its holdings in shares of BioMarin Pharmaceutical by 856.9% during the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company's stock worth $32,000 after buying an additional 437 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $36,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of BioMarin Pharmaceutical by 71.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock worth $37,000 after buying an additional 218 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of BioMarin Pharmaceutical by 64.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock worth $41,000 after buying an additional 233 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company's stock.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total value of $105,927.66. Following the completion of the transaction, the chief accounting officer now owns 14,173 shares in the company, valued at $840,600.63. This trade represents a 11.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.85% of the stock is currently owned by insiders.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock traded up $1.07 during trading hours on Friday, hitting $55.17. 3,332,935 shares of the company's stock traded hands, compared to its average volume of 1,715,946. The company has a fifty day simple moving average of $58.39 and a 200-day simple moving average of $63.23. BioMarin Pharmaceutical Inc. has a 12-month low of $52.93 and a 12-month high of $94.85. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 0.76 and a beta of 0.19. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.52 and a quick ratio of 3.49.

Analyst Upgrades and Downgrades

BMRN has been the topic of a number of research analyst reports. Citigroup cut their price target on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Wall Street Zen upgraded BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Friday, April 25th. Finally, The Goldman Sachs Group cut their price target on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $93.45.

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.