BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama raised its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 231,732 shares of the biotechnology company’s stock after buying an additional 462 shares during the period. Retirement Systems of Alabama’s holdings in BioMarin Pharmaceutical were worth $15,232,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BMRN. Merit Financial Group LLC acquired a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at $317,000. Assenagon Asset Management S.A. increased its stake in BioMarin Pharmaceutical by 461.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock valued at $40,205,000 after buying an additional 502,695 shares during the period. Wedmont Private Capital purchased a new position in BioMarin Pharmaceutical in the fourth quarter valued at about $430,000. Swedbank AB lifted its stake in BioMarin Pharmaceutical by 11.2% in the fourth quarter. Swedbank AB now owns 432,122 shares of the biotechnology company’s stock valued at $28,403,000 after acquiring an additional 43,593 shares during the last quarter. Finally, EULAV Asset Management raised its holdings in shares of BioMarin Pharmaceutical by 12.9% during the 3rd quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company’s stock valued at $9,208,000 after purchasing an additional 15,000 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $63.93 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. The firm’s fifty day moving average is $65.02 and its 200 day moving average is $72.41. The firm has a market cap of $12.18 billion, a P/E ratio of 38.28, a P/E/G ratio of 0.55 and a beta of 0.28. BioMarin Pharmaceutical Inc. has a 52 week low of $60.63 and a 52 week high of $94.85.

Wall Street Analysts Forecast Growth

BMRN has been the subject of a number of analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $80.00 price objective on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lowered their price target on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Wedbush upgraded BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Monday, November 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, December 12th. Finally, Evercore ISI dropped their target price on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus target price of $94.20.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the sale, the executive vice president now owns 68,909 shares in the company, valued at approximately $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.85% of the stock is currently owned by company insiders.

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.