New York State Teachers Retirement System Increases Position in BioMarin Pharmaceutical Inc. $BMRN

New York State Teachers Retirement System increased its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,605 shares of the biotechnology company’s stock after buying an additional 1,167 shares during the quarter. New York State Teachers Retirement System’s holdings in BioMarin Pharmaceutical were worth $5,915,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Byrne Financial Freedom LLC boosted its holdings in BioMarin Pharmaceutical by 4.4% in the first quarter. Byrne Financial Freedom LLC now owns 3,852 shares of the biotechnology company’s stock valued at $272,000 after purchasing an additional 161 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in BioMarin Pharmaceutical by 0.9% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,523 shares of the biotechnology company’s stock valued at $1,592,000 after purchasing an additional 197 shares during the last quarter. Xponance Inc. boosted its holdings in BioMarin Pharmaceutical by 0.6% in the first quarter. Xponance Inc. now owns 31,877 shares of the biotechnology company’s stock valued at $2,253,000 after purchasing an additional 202 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in BioMarin Pharmaceutical by 95.9% in the first quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 211 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in BioMarin Pharmaceutical by 5.0% in the first quarter. Nisa Investment Advisors LLC now owns 4,572 shares of the biotechnology company’s stock valued at $323,000 after purchasing an additional 217 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Trading Down 0.4%

Shares of BioMarin Pharmaceutical stock opened at $53.07 on Tuesday. The firm has a 50-day simple moving average of $55.58 and a two-hundred day simple moving average of $57.37. The company has a market cap of $10.19 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 0.67 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a fifty-two week low of $51.56 and a fifty-two week high of $73.51. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 5.56.

Analyst Ratings Changes

Several equities research analysts have commented on BMRN shares. HC Wainwright started coverage on shares of BioMarin Pharmaceutical in a report on Monday, September 8th. They issued a “neutral” rating and a $60.00 price target on the stock. Guggenheim upped their price target on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Wolfe Research set a $95.00 price target on shares of BioMarin Pharmaceutical and gave the company an “outperform” rating in a report on Tuesday, July 15th. Wedbush reiterated an “outperform” rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, August 5th. Finally, UBS Group upped their price objective on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Thirteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.26.

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.