38,500 Shares in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Purchased by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board acquired a new stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 38,500 shares of the biotechnology company’s stock, valued at approximately $3,170,000.

A number of other hedge funds also recently bought and sold shares of the business. Innealta Capital LLC purchased a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth $25,000. Quent Capital LLC raised its stake in BioMarin Pharmaceutical by 58.9% during the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 145 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in BioMarin Pharmaceutical by 135.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 249 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $43,000. Finally, AM Squared Ltd acquired a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth approximately $66,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on BMRN shares. Truist Financial decreased their price objective on BioMarin Pharmaceutical from $140.00 to $118.00 and set a “buy” rating on the stock in a report on Thursday. Piper Sandler raised their price target on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday. Canaccord Genuity Group reiterated a “hold” rating and issued a $89.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, July 25th. Baird R W lowered BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $110.00 target price on shares of BioMarin Pharmaceutical in a research note on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus price target of $106.10.

BioMarin Pharmaceutical Stock Down 1.2 %

BMRN opened at $84.08 on Friday. BioMarin Pharmaceutical Inc. has a one year low of $73.68 and a one year high of $99.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05. The stock has a market capitalization of $15.97 billion, a P/E ratio of 78.58 and a beta of 0.32. The business’s 50-day simple moving average is $86.53 and its 200-day simple moving average is $85.04.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.38 by $0.39. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. The company had revenue of $712.03 million for the quarter, compared to analyst estimates of $660.51 million. Analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.35 EPS for the current year.

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.