Strs Ohio Buys Shares of 16,000 BioMarin Pharmaceutical Inc. $BMRN

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 purchased a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 also recently added to or reduced their stakes in the stock. Dodge & Cox boosted its stake in BioMarin Pharmaceutical by 1.4% during the 1st quarter. Dodge & Cox now owns 14,955,240 shares of the biotechnology company's stock worth $1,057,186,000 after purchasing an additional 209,005 shares during the period. AQR Capital Management LLC raised its holdings in shares of BioMarin Pharmaceutical by 127.9% in the first quarter. AQR Capital Management LLC now owns 2,925,805 shares of the biotechnology company's stock valued at $203,987,000 after buying an additional 1,642,206 shares during the last quarter. Nuveen LLC acquired a new stake in shares of BioMarin Pharmaceutical during the first quarter worth about $184,475,000. Goldman Sachs Group Inc. grew its holdings in shares of BioMarin Pharmaceutical by 212.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company's stock worth $112,607,000 after buying an additional 1,083,512 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in BioMarin Pharmaceutical by 7.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,532,314 shares of the biotechnology company's stock valued at $108,319,000 after acquiring an additional 108,806 shares during the period. Institutional investors and hedge funds own 98.71% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on BMRN. Wall Street Zen raised BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 13th. Zacks Research cut BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Wolfe Research set a $95.00 price target on BioMarin Pharmaceutical and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Wedbush reiterated an "outperform" rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, August 5th. Finally, Guggenheim boosted their price objective on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $92.60.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock traded down $0.42 during midday trading on Monday, reaching $53.94. The company's stock had a trading volume of 1,866,590 shares, compared to its average volume of 1,901,207. The firm has a market capitalization of $10.36 billion, a PE ratio of 16.01, a P/E/G ratio of 0.69 and a beta of 0.35. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $73.51. The stock's 50 day simple moving average is $57.51 and its 200 day simple moving average is $59.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 5.56.

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.