California State Teachers Retirement System Sells 2,711 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

California State Teachers Retirement System trimmed its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Get Rating) by 0.9% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 301,146 shares of the biotechnology company’s stock after selling 2,711 shares during the period. California State Teachers Retirement System’s holdings in BioMarin Pharmaceutical were worth $25,528,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rhumbline Advisers boosted its position in shares of BioMarin Pharmaceutical by 17.9% in the 2nd quarter. Rhumbline Advisers now owns 192,672 shares of the biotechnology company’s stock worth $15,967,000 after purchasing an additional 29,286 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of BioMarin Pharmaceutical by 3.3% in the 3rd quarter. Victory Capital Management Inc. now owns 735,470 shares of the biotechnology company’s stock worth $62,346,000 after purchasing an additional 23,652 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in shares of BioMarin Pharmaceutical by 9.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 95,156 shares of the biotechnology company’s stock worth $8,066,000 after purchasing an additional 8,182 shares during the last quarter. Ensign Peak Advisors Inc boosted its position in shares of BioMarin Pharmaceutical by 99.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 90,326 shares of the biotechnology company’s stock worth $7,485,000 after purchasing an additional 44,936 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. boosted its position in shares of BioMarin Pharmaceutical by 4.5% in the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 47,060 shares of the biotechnology company’s stock worth $3,989,000 after purchasing an additional 2,030 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors.

Insider Activity at BioMarin Pharmaceutical

In related news, CEO Jean Jacques Bienaime sold 15,000 shares of BioMarin Pharmaceutical stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $92.28, for a total value of $1,384,200.00. Following the sale, the chief executive officer now owns 487,856 shares of the company’s stock, valued at $45,019,351.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Jean Jacques Bienaime sold 15,000 shares of BioMarin Pharmaceutical stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $92.28, for a total value of $1,384,200.00. Following the sale, the chief executive officer now owns 487,856 shares of the company’s stock, valued at $45,019,351.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeffrey Robert Ajer sold 49,000 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $115.70, for a total value of $5,669,300.00. Following the completion of the sale, the executive vice president now directly owns 41,088 shares in the company, valued at approximately $4,753,881.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 115,500 shares of company stock valued at $12,607,900. 1.75% of the stock is owned by insiders.

BioMarin Pharmaceutical Price Performance

NASDAQ:BMRN opened at $91.67 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.15 and a current ratio of 4.67. The stock’s 50-day simple moving average is $106.01 and its 200 day simple moving average is $97.62. The company has a market cap of $17.10 billion, a P/E ratio of 123.88 and a beta of 0.39. BioMarin Pharmaceutical Inc. has a 52-week low of $70.73 and a 52-week high of $117.77.

Analyst Upgrades and Downgrades

BMRN has been the topic of several recent research reports. Jefferies Financial Group raised their price target on BioMarin Pharmaceutical from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, November 29th. BMO Capital Markets dropped their price objective on BioMarin Pharmaceutical from $107.00 to $102.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 7th. Citigroup started coverage on BioMarin Pharmaceutical in a research note on Tuesday, February 21st. They set a “neutral” rating and a $116.00 price objective on the stock. Morgan Stanley dropped their price objective on BioMarin Pharmaceutical from $132.00 to $131.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 28th. Finally, Credit Suisse Group raised their price objective on BioMarin Pharmaceutical from $110.00 to $127.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 28th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.11.

BioMarin Pharmaceutical Company Profile

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BioMarin Pharmaceutical, Inc engages in the development and commercialization of therapies for people with serious and life-threatening rare diseases and medical conditions. Its pipeline products include Valoctocogene roxaparvovec, Vosoritide, and BMN 307. The company was founded by John C. Klock, Christopher M.