BioMarin Pharmaceutical Inc. $BMRN Stake Raised by Retirement Systems of Alabama

Retirement Systems of Alabama grew its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 234,394 shares of the biotechnology company’s stock after buying an additional 2,433 shares during the period. Retirement Systems of Alabama’s holdings in BioMarin Pharmaceutical were worth $12,885,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its holdings in BioMarin Pharmaceutical by 1.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 101,937 shares of the biotechnology company’s stock worth $6,926,000 after purchasing an additional 1,452 shares in the last quarter. New York State Teachers Retirement System raised its holdings in BioMarin Pharmaceutical by 0.3% during the first quarter. New York State Teachers Retirement System now owns 106,438 shares of the biotechnology company’s stock worth $7,524,000 after purchasing an additional 300 shares in the last quarter. Principal Financial Group Inc. raised its holdings in BioMarin Pharmaceutical by 0.3% during the first quarter. Principal Financial Group Inc. now owns 455,485 shares of the biotechnology company’s stock worth $32,198,000 after purchasing an additional 1,549 shares in the last quarter. GF Fund Management CO. LTD. raised its holdings in BioMarin Pharmaceutical by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 4,880 shares of the biotechnology company’s stock worth $345,000 after purchasing an additional 878 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its holdings in BioMarin Pharmaceutical by 5.1% during the first quarter. IFM Investors Pty Ltd now owns 38,328 shares of the biotechnology company’s stock worth $2,694,000 after purchasing an additional 1,874 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Up 3.2%

BioMarin Pharmaceutical stock opened at $53.57 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 4.83. The firm has a market cap of $10.29 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 0.68 and a beta of 0.33. BioMarin Pharmaceutical Inc. has a 1 year low of $51.00 and a 1 year high of $73.51. The firm’s 50 day moving average price is $54.78 and its two-hundred day moving average price is $57.07.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barclays dropped their target price on BioMarin Pharmaceutical from $86.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, October 28th. Morgan Stanley dropped their target price on BioMarin Pharmaceutical from $104.00 to $98.00 and set an “overweight” rating on the stock in a report on Tuesday, October 28th. Wall Street Zen cut BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company dropped their target price on BioMarin Pharmaceutical from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, October 28th. Finally, Guggenheim boosted their target price on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Sixteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $90.70.

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.