16,000 Shares in BioMarin Pharmaceutical Inc. $BMRN Purchased by Strs Ohio

Key Points

• Strs Ohio has acquired a new stake in BioMarin Pharmaceutical, purchasing 16,000 shares valued at approximately $1.13 million in the first quarter of the year.
• Over 98% of BioMarin's stock is owned by institutional investors, indicating strong institutional interest in the company.
• Analysts have issued a consensus rating of "Moderate Buy" for BioMarin Pharmaceutical, with an average target price of $92.60, reflecting positive market sentiment.

Strs Ohio bought a new position 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 (SEC). The fund bought 16,000 shares of the biotechnology company's stock, valued at approximately $1,131,000.

A number of other hedge funds and other institutional investors have also modified their holdings of BMRN. Rise Advisors LLC purchased a new stake in shares of BioMarin Pharmaceutical during the first quarter worth about $30,000. Farther Finance Advisors LLC lifted its position 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 during the period. MassMutual Private Wealth & Trust FSB grew its position 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 during the period. Brooklyn Investment Group raised its stake in shares of BioMarin Pharmaceutical by 2,250.0% during the 1st quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company's stock worth $40,000 after purchasing an additional 540 shares in the last quarter. Finally, Banque Transatlantique SA acquired a new stake in shares of BioMarin Pharmaceutical during the 1st quarter worth $71,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on BMRN shares. Wolfe Research set a $95.00 target price on BioMarin Pharmaceutical and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Zacks Research lowered BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. raised their target price on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Raymond James Financial began coverage on BioMarin Pharmaceutical in a research report on Wednesday, September 3rd. They issued an "outperform" rating and a $85.00 target price on the stock. Finally, UBS Group upped their target price on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Fourteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $92.60.

BioMarin Pharmaceutical Price Performance

Shares of BMRN traded down $0.78 during midday trading on Friday, hitting $54.36. 4,993,090 shares of the company traded hands, compared to its average volume of 1,734,296. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.60. BioMarin Pharmaceutical Inc. has a one year low of $52.93 and a one year high of $73.51. The stock has a 50-day moving average of $57.60 and a 200-day moving average of $59.87. The firm has a market cap of $10.44 billion, a P/E ratio of 16.13, a PEG ratio of 0.69 and a beta of 0.35.

BioMarin Pharmaceutical 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.