State of New Jersey Common Pension Fund D Cuts Stock Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

State of New Jersey Common Pension Fund D lowered its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 35.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,403 shares of the biotechnology company's stock after selling 37,718 shares during the period. State of New Jersey Common Pension Fund D's holdings in BioMarin Pharmaceutical were worth $5,632,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. AMI Asset Management Corp lifted its stake in shares of BioMarin Pharmaceutical by 51.9% in the first quarter. AMI Asset Management Corp now owns 346,189 shares of the biotechnology company's stock worth $30,236,000 after buying an additional 118,230 shares in the last quarter. Fisher Asset Management LLC bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth approximately $1,301,000. APG Asset Management US Inc. bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth approximately $3,462,000. Bridgewater Associates LP lifted its stake in shares of BioMarin Pharmaceutical by 18.3% in the fourth quarter. Bridgewater Associates LP now owns 190,970 shares of the biotechnology company's stock worth $18,413,000 after buying an additional 29,576 shares in the last quarter. Finally, AGF Management Ltd. bought a new position in shares of BioMarin Pharmaceutical in the second quarter worth approximately $2,563,000. Institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Trading Down 17.7 %

Shares of BioMarin Pharmaceutical stock traded down $15.04 during trading on Monday, hitting $69.86. The stock had a trading volume of 10,574,596 shares, compared to its average volume of 1,885,716. BioMarin Pharmaceutical Inc. has a 12 month low of $69.60 and a 12 month high of $99.56. The firm's fifty day simple moving average is $86.58 and its 200-day simple moving average is $84.71. The stock has a market cap of $13.27 billion, a PE ratio of 65.29, a PEG ratio of 1.03 and a beta of 0.32. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 1.95.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.39. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. The company had revenue of $712.03 million during the quarter, compared to analyst estimates of $660.51 million. As a group, sell-side analysts expect that BioMarin Pharmaceutical Inc. will post 2.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BMRN. Cantor Fitzgerald restated an "overweight" rating and set a $110.00 price objective on shares of BioMarin Pharmaceutical in a research report on Monday, September 9th. Truist Financial lowered their price objective on shares of BioMarin Pharmaceutical from $140.00 to $118.00 and set a "buy" rating on the stock in a research report on Thursday, September 5th. Piper Sandler increased their price objective on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an "overweight" rating in a research report on Thursday, September 5th. TD Cowen lowered their price objective on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, August 6th. Finally, Wells Fargo & Company increased their price objective on shares of BioMarin Pharmaceutical from $110.00 to $115.00 and gave the company an "overweight" rating in a research report on Thursday, June 27th. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of "Moderate Buy" and an average price target of $106.11.

About BioMarin Pharmaceutical

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.