New York State Teachers Retirement System Purchases 14,281 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

New York State Teachers Retirement System boosted its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 16.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 102,081 shares of the biotechnology company’s stock after purchasing an additional 14,281 shares during the quarter. New York State Teachers Retirement System owned about 0.05% of BioMarin Pharmaceutical worth $7,175,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BMRN. Envestnet Portfolio Solutions Inc. increased its holdings in BioMarin Pharmaceutical by 1.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock worth $932,000 after purchasing an additional 130 shares in the last quarter. Quent Capital LLC lifted its stake in BioMarin Pharmaceutical by 58.9% during 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 in the last quarter. Grandfield & Dodd LLC boosted its holdings in BioMarin Pharmaceutical by 1.6% during the 1st quarter. Grandfield & Dodd LLC now owns 16,127 shares of the biotechnology company’s stock worth $1,409,000 after acquiring an additional 255 shares during the last quarter. AIA Group Ltd grew its stake in shares of BioMarin Pharmaceutical by 7.0% in the 1st quarter. AIA Group Ltd now owns 4,076 shares of the biotechnology company’s stock worth $356,000 after acquiring an additional 266 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of BioMarin Pharmaceutical by 56.1% in the third quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 281 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BMRN shares. JPMorgan Chase & Co. reduced their target price on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Evercore ISI decreased their target price on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. William Blair downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Sanford C. Bernstein decreased their price objective on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, September 17th. Finally, Stifel Nicolaus dropped 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. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus target price of $94.16.

BioMarin Pharmaceutical Stock Down 0.9 %

Shares of BMRN opened at $66.01 on Tuesday. The firm has a market cap of $12.53 billion, a P/E ratio of 39.53, a PEG ratio of 0.67 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a 12 month low of $65.35 and a 12 month high of $99.56. The stock’s 50 day moving average is $74.65 and its two-hundred day moving average is $80.36. The company has a current ratio of 4.27, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The firm had revenue of $746.00 million for the quarter, compared to analysts’ expectations of $703.37 million. During the same quarter last year, the firm posted $0.26 earnings per share. BioMarin Pharmaceutical’s quarterly revenue was up 28.4% on a year-over-year basis. Analysts predict that BioMarin Pharmaceutical Inc. will post 2.39 earnings per share for the current fiscal year.

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.