Louisiana State Employees Retirement System Boosts Position in BioMarin Pharmaceutical Inc. $BMRN

Louisiana State Employees Retirement System boosted its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 54,000 shares of the biotechnology company’s stock after buying an additional 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in BioMarin Pharmaceutical were worth $2,968,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Dodge & Cox raised its position in BioMarin Pharmaceutical by 1.4% during the 1st quarter. Dodge & Cox now owns 14,955,240 shares of the biotechnology company’s stock worth $1,057,186,000 after buying an additional 209,005 shares during the last quarter. AQR Capital Management LLC raised its position in BioMarin Pharmaceutical by 127.9% during the 1st quarter. AQR Capital Management LLC now owns 2,925,805 shares of the biotechnology company’s stock worth $203,987,000 after buying an additional 1,642,206 shares during the last quarter. Nuveen LLC acquired a new stake in shares of BioMarin Pharmaceutical during the 1st quarter worth approximately $184,475,000. Goldman Sachs Group Inc. grew its stake in shares of BioMarin Pharmaceutical by 212.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company’s stock worth $112,607,000 after purchasing an additional 1,083,512 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of BioMarin Pharmaceutical by 7.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,532,314 shares of the biotechnology company’s stock worth $108,319,000 after purchasing an additional 108,806 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Trading Down 1.5%

Shares of BMRN opened at $53.85 on Friday. BioMarin Pharmaceutical Inc. has a 52-week low of $52.47 and a 52-week high of $73.51. The company has a quick ratio of 3.60, a current ratio of 5.56 and a debt-to-equity ratio of 0.10. The firm’s fifty day moving average is $56.48 and its two-hundred day moving average is $58.32. The stock has a market cap of $10.34 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 0.69 and a beta of 0.33.

Analyst Upgrades and Downgrades

BMRN has been the topic of a number of analyst reports. UBS Group raised their price objective on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. raised their price objective on shares of BioMarin Pharmaceutical from $116.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BioMarin Pharmaceutical in a research note on Wednesday. Wolfe Research set a $95.00 price objective on shares of BioMarin Pharmaceutical and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Finally, Guggenheim raised their price objective on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Thirteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $93.26.

BioMarin Pharmaceutical 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.