Illinois Municipal Retirement Fund Has $7.51 Million Stock Holdings in BioMarin Pharmaceutical Inc. $BMRN

Illinois Municipal Retirement Fund trimmed its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 22.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 132,890 shares of the biotechnology company’s stock after selling 38,821 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in BioMarin Pharmaceutical were worth $7,507,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC grew its stake in BioMarin Pharmaceutical by 11.5% in the first quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company’s stock valued at $266,000 after acquiring an additional 388 shares during the period. Empowered Funds LLC raised its position in shares of BioMarin Pharmaceutical by 207.4% during the first quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock worth $850,000 after purchasing an additional 8,112 shares during the period. Focus Partners Wealth lifted its holdings in shares of BioMarin Pharmaceutical by 70.2% in the 1st quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock worth $835,000 after purchasing an additional 4,876 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of BioMarin Pharmaceutical by 33.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company’s stock worth $244,000 after purchasing an additional 1,102 shares in the last quarter. Finally, Invesco Ltd. grew its position in BioMarin Pharmaceutical by 23.5% in the 2nd quarter. Invesco Ltd. now owns 618,835 shares of the biotechnology company’s stock valued at $34,017,000 after purchasing an additional 117,617 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on BMRN shares. Sanford C. Bernstein decreased their price target on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. HC Wainwright reaffirmed a “neutral” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday. Morgan Stanley reduced their price objective on shares of BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating for the company in a report on Tuesday, May 5th. Weiss Ratings raised shares of BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, June 26th. Finally, Truist Financial upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a report on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.26.

BioMarin Pharmaceutical Trading Down 0.7%

Shares of BioMarin Pharmaceutical stock opened at $59.59 on Friday. The stock has a fifty day simple moving average of $55.92 and a 200 day simple moving average of $56.85. BioMarin Pharmaceutical Inc. has a 12-month low of $49.26 and a 12-month high of $66.28. The company has a market capitalization of $11.52 billion, a P/E ratio of 43.50, a price-to-earnings-growth ratio of 0.46 and a beta of 0.24. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $53.85, for a total value of $176,681.85. Following the completion of the sale, the executive vice president directly owned 51,818 shares of the company’s stock, valued at approximately $2,790,399.30. This represents a 5.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.85% of the company’s stock.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.