BioMarin Pharmaceutical Inc. $BMRN Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its position in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 7.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 490,715 shares of the biotechnology company’s stock after selling 36,792 shares during the quarter. California Public Employees Retirement System’s holdings in BioMarin Pharmaceutical were worth $27,720,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Activest Wealth Management purchased a new stake in BioMarin Pharmaceutical during the fourth quarter worth $26,000. CIBC Private Wealth Group LLC grew its position in BioMarin Pharmaceutical by 38.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 179 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in BioMarin Pharmaceutical in the third quarter valued at $40,000. Parallel Advisors LLC increased its holdings in BioMarin Pharmaceutical by 62.2% in the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 295 shares in the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in BioMarin Pharmaceutical in the fourth quarter valued at $45,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Sanford C. Bernstein lowered their target price on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. HC Wainwright restated a “neutral” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 14th. Wall Street Zen lowered BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Citigroup upped their price target on BioMarin Pharmaceutical from $75.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Finally, Truist Financial upgraded BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.26.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $53.85, for a total transaction of $176,681.85. Following the completion of the sale, the executive vice president directly owned 51,818 shares in the company, valued at approximately $2,790,399.30. The trade was a 5.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.68% of the company’s stock.

BioMarin Pharmaceutical Stock Up 0.2%

BMRN stock opened at $59.21 on Wednesday. BioMarin Pharmaceutical Inc. has a 52 week low of $49.26 and a 52 week high of $66.28. The company has a quick ratio of 4.20, a current ratio of 5.81 and a debt-to-equity ratio of 0.23. The firm has a 50-day simple moving average of $56.18 and a 200-day simple moving average of $56.83. The stock has a market capitalization of $11.44 billion, a P/E ratio of 43.22, a P/E/G ratio of 0.45 and a beta of 0.24.

About BioMarin Pharmaceutical

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.