BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Acquired by Employees Retirement System of Texas

Employees Retirement System of Texas increased its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 31.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 344,000 shares of the biotechnology company’s stock after purchasing an additional 83,000 shares during the period. Employees Retirement System of Texas owned 0.18% of BioMarin Pharmaceutical worth $29,818,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BMRN. ICA Group Wealth Management LLC acquired a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $31,000. MayTech Global Investments LLC acquired a new stake in BioMarin Pharmaceutical during the 4th quarter worth $36,000. Dark Forest Capital Management LP acquired a new stake in BioMarin Pharmaceutical during the 1st quarter worth $37,000. WealthPLAN Partners LLC purchased a new stake in shares of BioMarin Pharmaceutical during the first quarter worth $37,000. Finally, State of Wyoming acquired a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at about $41,000. 92.78% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ BMRN traded up $0.12 during midday trading on Tuesday, reaching $87.65. 215,739 shares of the company traded hands, compared to its average volume of 1,375,034. The stock has a 50-day moving average price of $85.66 and a 200 day moving average price of $88.88. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.54 and a quick ratio of 1.65. The company has a market cap of $16.51 billion, a price-to-earnings ratio of 113.68, a PEG ratio of 1.35 and a beta of 0.37. BioMarin Pharmaceutical Inc. has a 52 week low of $76.02 and a 52 week high of $117.77.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Cantor Fitzgerald decreased their target price on shares of BioMarin Pharmaceutical from $120.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, November 2nd. UBS Group assumed coverage on BioMarin Pharmaceutical in a report on Monday, September 18th. They set a “buy” rating and a $120.00 price target on the stock. Wells Fargo & Company began coverage on shares of BioMarin Pharmaceutical in a report on Wednesday, November 15th. They issued an “overweight” rating and a $100.00 price objective for the company. Raymond James started coverage on shares of BioMarin Pharmaceutical in a research report on Thursday, September 28th. They set a “market perform” rating for the company. Finally, Stifel Nicolaus decreased their target price on shares of BioMarin Pharmaceutical from $118.00 to $108.00 and set a “buy” rating on the stock in a report on Tuesday, August 1st. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $113.77.

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.