BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 6.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,522 shares of the biotechnology company's stock after selling 7,138 shares during the period. Teacher Retirement System of Texas owned approximately 0.06% of BioMarin Pharmaceutical worth $7,459,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC bought a new position in BioMarin Pharmaceutical during the first quarter valued at approximately $306,000. New York State Teachers Retirement System lifted its stake in shares of BioMarin Pharmaceutical by 0.3% in the 1st quarter. New York State Teachers Retirement System now owns 106,438 shares of the biotechnology company's stock valued at $7,524,000 after purchasing an additional 300 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of BioMarin Pharmaceutical by 1.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 101,937 shares of the biotechnology company's stock valued at $6,926,000 after purchasing an additional 1,452 shares during the last quarter. Alta Wealth Advisors LLC bought a new stake in shares of BioMarin Pharmaceutical in the 1st quarter valued at approximately $526,000. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of BioMarin Pharmaceutical by 12.3% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 97,261 shares of the biotechnology company's stock valued at $6,875,000 after purchasing an additional 10,687 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Erin Burkhart sold 1,786 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total transaction of $105,927.66. Following the transaction, the chief accounting officer directly owned 14,173 shares in the company, valued at $840,600.63. The trade was a 11.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.85% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group lowered their price objective on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Citigroup lowered their price objective on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Morgan Stanley assumed coverage on BioMarin Pharmaceutical in a research note on Thursday, July 3rd. They issued an "overweight" rating and a $97.00 price objective for the company. Finally, Wall Street Zen raised BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 25th. Six research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of "Moderate Buy" and an average price target of $93.61.

BioMarin Pharmaceutical Stock Up 2.9%

Shares of NASDAQ:BMRN traded up $1.68 on Wednesday, reaching $59.67. The company had a trading volume of 2,086,304 shares, compared to its average volume of 1,746,479. BioMarin Pharmaceutical Inc. has a 52-week low of $52.93 and a 52-week high of $94.85. The firm's 50 day simple moving average is $57.58 and its 200-day simple moving average is $62.78. The firm has a market capitalization of $11.44 billion, a PE ratio of 22.18, a PEG ratio of 0.79 and a beta of 0.17. The company has a current ratio of 5.52, a quick ratio of 3.49 and a debt-to-equity ratio of 0.10.

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.