Texas Permanent School Fund Corp Purchases New Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Texas Permanent School Fund Corp purchased a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 26,646 shares of the biotechnology company's stock, valued at approximately $2,194,000.

A number of other large investors also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. lifted its stake in shares of BioMarin Pharmaceutical by 1.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company's stock valued at $932,000 after acquiring an additional 130 shares during the last quarter. Quent Capital LLC lifted its stake in shares of BioMarin Pharmaceutical by 58.9% in the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock valued at $32,000 after acquiring an additional 145 shares during the last quarter. Yousif Capital Management LLC lifted its stake in shares of BioMarin Pharmaceutical by 8.9% in the 1st quarter. Yousif Capital Management LLC now owns 2,414 shares of the biotechnology company's stock valued at $211,000 after acquiring an additional 198 shares during the last quarter. Integrated Advisors Network LLC lifted its stake in shares of BioMarin Pharmaceutical by 6.2% in the 4th quarter. Integrated Advisors Network LLC now owns 3,533 shares of the biotechnology company's stock valued at $341,000 after acquiring an additional 206 shares during the last quarter. Finally, SteelPeak Wealth LLC lifted its stake in shares of BioMarin Pharmaceutical by 10.9% in the 1st quarter. SteelPeak Wealth LLC now owns 2,498 shares of the biotechnology company's stock valued at $218,000 after acquiring an additional 246 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on BMRN. William Blair upgraded BioMarin Pharmaceutical to a "strong-buy" rating in a research note on Friday, August 30th. Piper Sandler increased 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. Canaccord Genuity Group restated a "hold" rating and issued a $93.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, September 13th. Evercore ISI increased their price objective on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, August 6th. Finally, Sanford C. Bernstein decreased their price objective on BioMarin Pharmaceutical from $116.00 to $90.00 and set an "outperform" rating for the company in a report on Tuesday. Eight analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.90.

BioMarin Pharmaceutical Stock Up 0.8 %

Shares of BMRN stock traded up $0.59 on Wednesday, reaching $71.14. 2,171,285 shares of the company were exchanged, compared to its average volume of 1,902,703. The company has a market cap of $13.51 billion, a price-to-earnings ratio of 66.49, a PEG ratio of 1.03 and a beta of 0.32. The company has a 50-day moving average of $86.11 and a 200-day moving average of $84.49. 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 Inc. has a one year low of $68.83 and a one year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.39. The company had revenue of $712.03 million for the quarter, compared to analysts' expectations of $660.51 million. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. Analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.4 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.