State of New Jersey Common Pension Fund D Lowers Holdings in BioMarin Pharmaceutical Inc. $BMRN

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in BioMarin Pharmaceutical Inc. by 7.5%, owning 63,276 shares worth approximately $4.47 million after selling 5,127 shares in the first quarter.
• Several hedge funds have significantly increased their positions in BioMarin, with Farther Finance Advisors adding 95.9% and LRI Investments increasing by 856.9%, highlighting growing institutional interest.
• BioMarin's stock has a current consensus rating of "Moderate Buy" from analysts, with a target price averaging $93.17, despite varied ratings from different firms.

State of New Jersey Common Pension Fund D decreased its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 7.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,276 shares of the biotechnology company's stock after selling 5,127 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in BioMarin Pharmaceutical were worth $4,473,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BMRN. Farther Finance Advisors LLC raised its holdings in BioMarin Pharmaceutical by 95.9% in the first quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 211 shares in the last quarter. LRI Investments LLC raised its holdings in 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 in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in BioMarin Pharmaceutical by 71.2% in 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 in the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in BioMarin Pharmaceutical in the fourth quarter worth $62,000. Finally, Parallel Advisors LLC raised its holdings in BioMarin Pharmaceutical by 97.8% in the first quarter. Parallel Advisors LLC now owns 1,335 shares of the biotechnology company's stock worth $94,000 after purchasing an additional 660 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN traded up $0.51 on Friday, reaching $58.58. The company's stock had a trading volume of 1,654,856 shares, compared to its average volume of 2,537,483. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.60. The stock has a market capitalization of $11.25 billion, a P/E ratio of 17.38, a PEG ratio of 0.74 and a beta of 0.18. The stock's 50 day simple moving average is $57.49 and its two-hundred day simple moving average is $61.39. BioMarin Pharmaceutical Inc. has a 12-month low of $52.93 and a 12-month high of $93.04.

Analyst Ratings Changes

BMRN has been the subject of a number of research reports. UBS Group increased their price objective on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Wolfe Research set a $95.00 price target on BioMarin Pharmaceutical and gave the company an "outperform" rating in a report on Tuesday, July 15th. The Goldman Sachs Group reduced their price target on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a report on Monday, May 5th. Wedbush restated an "outperform" rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, August 5th. Finally, Guggenheim raised their price target on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Eighteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.17.

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.