California State Teachers Retirement System Has $12.14 Million Stock Position in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• California State Teachers Retirement System increased its BioMarin stake by 23.9% in the first quarter, holding 214,859 shares worth approximately $12.14 million. Institutional investors and hedge funds collectively own 98.71% of BMRN.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $88.26, although Canaccord Genuity lowered its target to $111 and several firms reiterated neutral or hold ratings.
• BioMarin shares opened at $59.99, compared with a 12-month range of $49.26 to $66.28. Executive Vice President Gregory R. Friberg also sold 3,281 shares, while insiders own 0.68% of the company.

California State Teachers Retirement System lifted its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 23.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 214,859 shares of the biotechnology company's stock after buying an additional 41,453 shares during the period. California State Teachers Retirement System owned about 0.11% of BioMarin Pharmaceutical worth $12,137,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Viking Global Investors LP raised its position in BioMarin Pharmaceutical by 13.8% during the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company's stock worth $675,505,000 after purchasing an additional 1,488,552 shares during the last quarter. Norges Bank acquired a new position in BioMarin Pharmaceutical during the 4th quarter worth about $447,572,000. AQR Capital Management LLC grew its position in shares of BioMarin Pharmaceutical by 12.7% in the 4th quarter. AQR Capital Management LLC now owns 6,686,916 shares of the biotechnology company's stock valued at $395,197,000 after buying an additional 754,807 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of BioMarin Pharmaceutical by 14.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,802,930 shares of the biotechnology company's stock valued at $214,804,000 after buying an additional 481,176 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of BioMarin Pharmaceutical by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 3,674,089 shares of the biotechnology company's stock valued at $218,395,000 after buying an additional 131,969 shares during the period. Institutional investors and hedge funds own 98.71% of the company's stock.

Analysts Set New Price Targets

BMRN has been the topic of several analyst reports. HC Wainwright reiterated a "neutral" rating on shares of BioMarin Pharmaceutical in a report on Tuesday, July 14th. Canaccord Genuity Group lowered their price target on shares of BioMarin Pharmaceutical from $116.00 to $111.00 and set a "buy" rating for the company in a report on Friday, May 22nd. UBS Group restated a "neutral" rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, July 14th. Weiss Ratings raised shares of BioMarin Pharmaceutical from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, June 26th. Finally, Wall Street Zen cut shares of BioMarin Pharmaceutical from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $88.26.

Insider Buying and Selling

In related news, EVP Gregory R. Friberg sold 3,281 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $53.85, for a total transaction of $176,681.85. Following the transaction, the executive vice president owned 51,818 shares of the company's stock, valued at $2,790,399.30. The trade was a 5.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.68% of the company's stock.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $59.99 on Tuesday. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23. The firm has a fifty day simple moving average of $57.58 and a two-hundred day simple moving average of $56.90. BioMarin Pharmaceutical Inc. has a 12 month low of $49.26 and a 12 month high of $66.28. The firm has a market capitalization of $11.59 billion, a PE ratio of 43.79, a price-to-earnings-growth ratio of 0.46 and a beta of 0.24.

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.

Want to see what other hedge funds are holding BMRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source