Kentucky Retirement Systems Makes New $911,000 Investment in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Kentucky Retirement Systems bought a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the 1st quarter, according to 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.

Several other hedge funds have also recently made changes to their positions in BMRN. Farther Finance Advisors LLC grew its stake in BioMarin Pharmaceutical by 95.9% during the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 211 shares during the last quarter. LRI Investments LLC raised its stake in shares of BioMarin Pharmaceutical by 856.9% in the fourth quarter. LRI Investments LLC now owns 488 shares of the biotechnology company's stock worth $32,000 after purchasing an additional 437 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth about $36,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of BioMarin Pharmaceutical by 71.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock worth $37,000 after purchasing an additional 218 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its position in BioMarin Pharmaceutical by 64.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock valued at $41,000 after buying an additional 233 shares during the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

BioMarin Pharmaceutical Price Performance

NASDAQ BMRN traded up $0.35 on Friday, hitting $54.45. The company had a trading volume of 281,296 shares, compared to its average volume of 1,707,444. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.52 and a quick ratio of 3.49. The company's fifty day moving average price is $58.47 and its 200-day moving average price is $63.33. The company has a market capitalization of $10.44 billion, a PE ratio of 20.26, a PEG ratio of 0.74 and a beta of 0.19. BioMarin Pharmaceutical Inc. has a 12-month low of $52.93 and a 12-month high of $94.85.

Insider Activity

In related news, CAO Erin Burkhart sold 1,786 shares of the stock in a transaction on 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 directly owns 14,173 shares of the company's stock, valued at approximately $840,600.63. This represents a 11.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.85% of the company's stock.

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.