California State Teachers Retirement System Grows Stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

California State Teachers Retirement System grew its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 273,761 shares of the biotechnology company’s stock after buying an additional 7,094 shares during the quarter. California State Teachers Retirement System owned 0.14% of BioMarin Pharmaceutical worth $17,994,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of BioMarin Pharmaceutical by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company’s stock valued at $1,273,334,000 after acquiring an additional 93,531 shares in the last quarter. Dodge & Cox raised its holdings in shares of BioMarin Pharmaceutical by 6.1% in the 4th quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company’s stock valued at $969,270,000 after purchasing an additional 847,917 shares in the last quarter. Capital Research Global Investors lifted its position in shares of BioMarin Pharmaceutical by 23.8% in the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock worth $853,944,000 after purchasing an additional 2,496,817 shares during the period. Norges Bank bought a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $234,645,000. Finally, Geode Capital Management LLC increased its holdings in BioMarin Pharmaceutical by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 3,288,778 shares of the biotechnology company’s stock valued at $215,784,000 after buying an additional 28,728 shares during the period. Institutional investors own 98.71% of the company’s stock.

Analysts Set New Price Targets

BMRN has been the subject of a number of analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Wall Street Zen raised BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 25th. Oppenheimer upgraded BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price on the stock in a research note on Monday, February 24th. Bank of America increased their price target on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, UBS Group lifted their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $93.45.

BioMarin Pharmaceutical Stock Up 0.8%

BioMarin Pharmaceutical stock opened at $58.55 on Friday. The business’s 50-day simple moving average is $61.35 and its two-hundred day simple moving average is $64.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The company has a market cap of $11.23 billion, a PE ratio of 26.61, a PEG ratio of 0.61 and a beta of 0.27. BioMarin Pharmaceutical Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $94.85.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total transaction of $92,618.40. Following the completion of the transaction, the chief accounting officer now owns 16,955 shares of the company’s stock, valued at $1,212,621.60. This trade represents a 7.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 3,354 shares of company stock worth $216,269. Company insiders own 0.85% of the company’s stock.

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.