Arizona State Retirement System Increases Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Arizona State Retirement System grew its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,280 shares of the biotechnology company’s stock after purchasing an additional 880 shares during the quarter. Arizona State Retirement System’s holdings in BioMarin Pharmaceutical were worth $3,634,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of BMRN. Proficio Capital Partners LLC purchased a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at $920,000. M&T Bank Corp boosted its stake in BioMarin Pharmaceutical by 9.5% in the fourth quarter. M&T Bank Corp now owns 7,085 shares of the biotechnology company’s stock valued at $466,000 after acquiring an additional 616 shares in the last quarter. Assetmark Inc. grew its holdings in shares of BioMarin Pharmaceutical by 1,391.9% during the fourth quarter. Assetmark Inc. now owns 4,953 shares of the biotechnology company’s stock worth $326,000 after purchasing an additional 4,621 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of BioMarin Pharmaceutical by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,423,508 shares of the biotechnology company’s stock worth $93,567,000 after purchasing an additional 21,880 shares in the last quarter. Finally, Grandfield & Dodd LLC lifted its holdings in shares of BioMarin Pharmaceutical by 4.4% in the 4th quarter. Grandfield & Dodd LLC now owns 17,392 shares of the biotechnology company’s stock valued at $1,143,000 after purchasing an additional 731 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,344 shares of BioMarin Pharmaceutical stock in a transaction on Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the completion of the transaction, the chief accounting officer now directly owns 13,105 shares of the company’s stock, valued at approximately $896,119.90. The trade was a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BMRN shares. Scotiabank raised their price target on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. Wedbush restated an “outperform” rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Citigroup lifted their target price on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Oppenheimer upgraded shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price target for the company in a research note on Monday, February 24th. Finally, Bank of America lifted their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Seven 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $94.00.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $72.23 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. BioMarin Pharmaceutical Inc. has a one year low of $60.63 and a one year high of $94.85. The firm has a market capitalization of $13.78 billion, a P/E ratio of 32.83, a PEG ratio of 0.61 and a beta of 0.33. The company’s fifty day moving average is $65.76 and its two-hundred day moving average is $69.34.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The firm had revenue of $747.31 million for the quarter, compared to the consensus estimate of $711.05 million. Analysts forecast that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

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.