Retirement Systems of Alabama Sells 3,089 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Retirement Systems of Alabama lessened its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 231,270 shares of the biotechnology company’s stock after selling 3,089 shares during the period. Retirement Systems of Alabama’s holdings in BioMarin Pharmaceutical were worth $16,256,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in BMRN. Innealta Capital LLC acquired a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at about $25,000. nVerses Capital LLC bought a new position in BioMarin Pharmaceutical in the 3rd quarter worth approximately $28,000. BOKF NA acquired a new position in BioMarin Pharmaceutical during the 2nd quarter worth $31,000. TD Private Client Wealth LLC boosted its position in BioMarin Pharmaceutical by 57.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 186 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $47,000. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Trading Down 0.4 %

Shares of NASDAQ:BMRN opened at $66.01 on Monday. The firm has a market cap of $12.58 billion, a price-to-earnings ratio of 39.53, a PEG ratio of 0.65 and a beta of 0.29. BioMarin Pharmaceutical Inc. has a 12 month low of $61.15 and a 12 month high of $99.56. The company’s fifty day simple moving average is $66.97 and its 200 day simple moving average is $77.16. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.23). The firm had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The business’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 EPS. As a group, research analysts forecast that BioMarin Pharmaceutical Inc. will post 2.49 EPS for the current fiscal year.

Analysts Set New Price Targets

BMRN has been the topic of several research reports. William Blair lowered BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Stifel Nicolaus reduced 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 note on Tuesday, September 17th. Royal Bank of Canada reissued a “sector perform” rating and set a $80.00 price target on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 30th. Canaccord Genuity Group reduced their price objective on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Finally, Raymond James reiterated an “outperform” rating and set a $79.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average target price of $94.20.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 5,278 shares of BioMarin Pharmaceutical stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total value of $350,300.86. Following the sale, the executive vice president now owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.85% of the company’s stock.

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.