Wed Sep 18 00:36:56 UTC 2024: ## Texas School Fund Invests in BioMarin Pharmaceutical

**Austin, Texas** – The Texas Permanent School Fund Corporation (TPSFC) has purchased a new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), a leading biotechnology company specializing in therapies for rare diseases. The investment, valued at approximately $2.19 million, was disclosed in the TPSFC’s most recent Form 13F filing with the Securities and Exchange Commission (SEC).

The TPSFC acquired 26,646 shares of BioMarin stock during the second quarter. This move follows a trend of institutional investors showing interest in the company. Other notable investors include AMI Asset Management Corp, which increased its stake by 51.9% in the first quarter, and Fisher Asset Management LLC, which purchased a new position in the fourth quarter.

BioMarin shares opened at $70.55 on Wednesday, with a market cap of $13.40 billion. The company’s current ratio stands at 3.05, its quick ratio is 1.95, and its debt-to-equity ratio is 0.11.

Several research analysts have recently issued reports on BioMarin. TD Cowen maintains a “buy” rating but lowered its target price from $125.00 to $120.00. Sanford C. Bernstein, on the other hand, cut its target price from $116.00 to $90.00 while maintaining an “outperform” rating. Overall, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.90, according to MarketBeat.com.

BioMarin develops and commercializes therapies for individuals with serious and life-threatening rare diseases. Its product portfolio includes Vimizim, Naglazyme, and Kuvan, treating conditions like MPS IV type A, MPS VI, and phenylketonuria (PKU), respectively.

The Texas Permanent School Fund Corporation’s investment in BioMarin reflects growing confidence in the biotechnology sector, particularly companies focused on rare diseases. This move is expected to further strengthen BioMarin’s position in the market and accelerate its efforts in developing life-saving therapies for those in need.

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