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

Texas Permanent School Fund Corp acquired a new position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in the 2nd quarter, HoldingsChannel reports. The fund acquired 26,646 shares of the biotechnology company’s stock, valued at approximately $2,194,000.

Several other institutional investors have also added to or reduced their stakes in the company. AMI Asset Management Corp raised its holdings 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 during the period. Fisher Asset Management LLC purchased a new position in BioMarin Pharmaceutical during the 4th quarter valued at $1,301,000. APG Asset Management US Inc. purchased a new stake in BioMarin Pharmaceutical in the fourth quarter worth $3,462,000. Bridgewater Associates LP increased its stake in BioMarin Pharmaceutical by 18.3% in the 4th 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 during the period. Finally, Tidal Investments LLC lifted its holdings in BioMarin Pharmaceutical by 65.5% during the 1st quarter. Tidal Investments LLC now owns 17,447 shares of the biotechnology company’s stock valued at $1,524,000 after buying an additional 6,906 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock opened at $70.55 on Wednesday. The company has a 50 day moving average price of $86.33 and a 200 day moving average price of $84.59. The firm has a market capitalization of $13.40 billion, a P/E ratio of 65.93, a PEG ratio of 1.03 and a beta of 0.32. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical Inc. has a 52 week low of $68.83 and a 52 week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, topping 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 business had revenue of $712.03 million during the quarter, compared to the consensus estimate of $660.51 million. Sell-side analysts expect that BioMarin Pharmaceutical Inc. will post 2.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BMRN shares. JPMorgan Chase & Co. raised their target price on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Bank of America decreased their target price on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday. Barclays cut their price target on BioMarin Pharmaceutical from $111.00 to $110.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $110.00 price objective on shares of BioMarin Pharmaceutical in a report on Monday, September 9th. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $93.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, September 13th. Eight equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.90.

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.