Arizona PSPRS Trust Takes Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Arizona PSPRS Trust purchased a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,100 shares of the biotechnology company’s stock, valued at approximately $1,694,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Erste Asset Management GmbH purchased a new stake in BioMarin Pharmaceutical in the 3rd quarter valued at about $48,527,000. Principal Financial Group Inc. grew its stake in BioMarin Pharmaceutical by 1,858.6% in the second quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company’s stock worth $53,470,000 after purchasing an additional 616,301 shares in the last quarter. Vestal Point Capital LP purchased a new position in BioMarin Pharmaceutical during the 3rd quarter worth $28,116,000. Assenagon Asset Management S.A. raised its position in BioMarin Pharmaceutical by 11,107.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 352,474 shares of the biotechnology company’s stock valued at $29,019,000 after purchasing an additional 349,329 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of BioMarin Pharmaceutical by 122.1% in the 2nd quarter. Rhumbline Advisers now owns 551,553 shares of the biotechnology company’s stock worth $45,409,000 after buying an additional 303,207 shares during the period. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $66.03 on Monday. The stock has a 50-day moving average of $67.72 and a two-hundred day moving average of $77.88. 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 stock has a market cap of $12.58 billion, a P/E ratio of 39.54, a P/E/G ratio of 0.65 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a one year low of $61.15 and a one year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The firm had revenue of $746.00 million during the quarter, compared to analysts’ expectations of $703.37 million. During the same quarter in the prior year, the company earned $0.26 EPS. BioMarin Pharmaceutical’s quarterly revenue was up 28.4% on a year-over-year basis. As a group, research analysts predict that BioMarin Pharmaceutical Inc. will post 2.49 EPS for the current year.

Insider Transactions at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was 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 $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.85% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BMRN. Raymond James restated an “outperform” rating and set a $79.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, October 10th. Citigroup reduced their price target on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Canaccord Genuity Group dropped their price objective on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Robert W. Baird dropped their target price on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $80.00 price target on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. Seven research 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $94.20.

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.