Public Employees Retirement System of Ohio Sells 6,819 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Public Employees Retirement System of Ohio reduced its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 9.0% in the third quarter, Holdings Channel.com reports. The fund owned 69,113 shares of the biotechnology company’s stock after selling 6,819 shares during the period. Public Employees Retirement System of Ohio’s holdings in BioMarin Pharmaceutical were worth $4,858,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Innealta Capital LLC bought a new position in BioMarin Pharmaceutical during the second quarter valued at approximately $25,000. BOKF NA bought a new position in shares of BioMarin Pharmaceutical in the second quarter worth approximately $31,000. nVerses Capital LLC purchased a new stake in BioMarin Pharmaceutical in the 3rd quarter worth $28,000. Itau Unibanco Holding S.A. purchased a new stake in shares of BioMarin Pharmaceutical during the second quarter worth about $47,000. Finally, Meeder Asset Management Inc. grew its holdings in BioMarin Pharmaceutical by 920.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after buying an additional 663 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Insider Activity at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the completion of the transaction, the executive vice president now directly owns 68,909 shares of the company’s stock, valued at $4,573,490.33. This represents a 7.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Piper Sandler boosted their target price on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Scotiabank decreased their target price on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating for the company in a research report on Tuesday, September 17th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $80.00 price target on shares of BioMarin Pharmaceutical in a report on Wednesday, October 30th. Citigroup dropped their target price on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Finally, Wedbush raised BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Monday, November 4th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.20.

BioMarin Pharmaceutical Stock Down 0.4 %

Shares of BMRN stock opened at $66.01 on Friday. BioMarin Pharmaceutical Inc. has a fifty-two week low of $61.15 and a fifty-two week high of $99.56. The stock’s 50-day simple moving average is $66.97 and its 200-day simple moving average is $77.14. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. The firm has a market capitalization of $12.58 billion, a PE ratio of 39.53, a P/E/G ratio of 0.65 and a beta of 0.29.

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 the consensus estimate 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 return on equity of 8.53% and a net margin of 11.71%. BioMarin Pharmaceutical’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 earnings per share. Equities analysts expect that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share 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.