BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Shares Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky increased its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 17.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 194,207 shares of the biotechnology company's stock after acquiring an additional 28,837 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.10% of BioMarin Pharmaceutical worth $15,990,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Innealta Capital LLC acquired a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $25,000. BOKF NA purchased a new position in BioMarin Pharmaceutical in the 2nd quarter valued at $31,000. Quent Capital LLC grew its position in 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 buying an additional 145 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in BioMarin Pharmaceutical in the 4th quarter valued at $43,000. Finally, Itau Unibanco Holding S.A. purchased a new position in BioMarin Pharmaceutical in the 2nd quarter valued at $47,000. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

BMRN stock traded down $0.44 during trading on Wednesday, hitting $69.66. The stock had a trading volume of 1,144,512 shares, compared to its average volume of 1,899,914. The company's 50 day moving average price is $83.20 and its two-hundred day moving average price is $83.40. BioMarin Pharmaceutical Inc. has a 1-year low of $67.75 and a 1-year high of $99.56. The stock has a market cap of $13.23 billion, a price-to-earnings ratio of 65.10, a price-to-earnings-growth ratio of 0.80 and a beta of 0.32. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.39. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. The firm had revenue of $712.03 million during the quarter, compared to the consensus estimate of $660.51 million. On average, sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 2.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a research report on Thursday, August 8th. Stifel Nicolaus decreased their target price on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a "buy" rating on the stock in a research report on Tuesday, September 17th. Evercore ISI boosted their target price on shares of BioMarin Pharmaceutical from $113.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 6th. Bank of America decreased their target price on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Tuesday, September 17th. Finally, 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 research report on Thursday, September 5th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $98.84.

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.