Arizona PSPRS Trust Invests $1.69 Million in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Arizona PSPRS Trust purchased a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 3rd quarter, HoldingsChannel reports. The firm purchased 24,100 shares of the biotechnology company’s stock, valued at approximately $1,694,000.

Other large investors also recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in BioMarin Pharmaceutical in the second quarter valued at approximately $25,000. nVerses Capital LLC purchased a new stake in BioMarin Pharmaceutical in the 3rd quarter worth $28,000. BOKF NA acquired a new position in BioMarin Pharmaceutical during the second quarter worth $31,000. Quent Capital LLC lifted its holdings in BioMarin Pharmaceutical by 58.9% during the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 145 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at about $47,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $66.03 on Monday. The stock has a market cap of $12.58 billion, a PE ratio of 39.54, a P/E/G ratio of 0.65 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a twelve month low of $61.15 and a twelve month high of $99.56. The stock has a fifty day simple moving average of $67.72 and a 200-day simple moving average of $77.88. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). The company had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. BioMarin Pharmaceutical’s revenue was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 earnings per share. Equities analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

BMRN has been the topic of a number of research reports. TD Cowen decreased their price target on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Wells Fargo & Company lowered their price target on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 17th. JPMorgan Chase & Co. reduced their price objective on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Piper Sandler raised their price objective on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Finally, Stifel Nicolaus dropped their target price on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $94.20.

Insider Activity at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the transaction, the executive vice president now owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. This represents a 7.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.85% of the stock is owned by insiders.

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.