Teacher Retirement System of Texas lessened its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 6.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 filing with the SEC.
A number of other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in BioMarin Pharmaceutical by 95.9% during 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 last quarter. LRI Investments LLC grew its holdings in shares of 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 during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of BioMarin Pharmaceutical by 71.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock valued at $37,000 after buying an additional 218 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $36,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in BioMarin Pharmaceutical by 64.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock valued at $41,000 after purchasing an additional 233 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors.
Insider Activity
In related news, CAO Erin Burkhart sold 1,786 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total value of $105,927.66. Following the sale, the chief accounting officer owned 14,173 shares of the company's stock, valued at $840,600.63. This trade represents a 11.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.85% of the stock is owned by insiders.
BioMarin Pharmaceutical Price Performance
BMRN stock traded up $1.83 during mid-day trading on Wednesday, reaching $59.82. The company's stock had a trading volume of 1,106,089 shares, compared to its average volume of 1,866,911. The company's 50 day moving average is $57.66 and its two-hundred day moving average is $62.80. The stock has a market cap of $11.47 billion, a PE ratio of 22.24, a P/E/G ratio of 0.78 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 Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $94.85.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. Morgan Stanley initiated coverage on BioMarin Pharmaceutical in a research note on Thursday, July 3rd. They set an "overweight" rating and a $97.00 price target for the company. Citigroup cut their price target on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Wall Street Zen upgraded BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 25th. Finally, The Goldman Sachs Group cut their price target on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, BioMarin Pharmaceutical currently has an average rating of "Moderate Buy" and a consensus target price of $93.61.
Read Our Latest Stock Analysis on BioMarin Pharmaceutical
BioMarin Pharmaceutical Profile
(
Free Report)
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.
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