BMO Capital Markets restated their outperform rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research report report published on Friday morning. The brokerage currently has a $125.00 price target on the biotechnology company’s stock, up from their prior price target of $119.00.
Several other research analysts have also weighed in on the company. SunTrust Banks upped their target price on BioMarin Pharmaceutical to $130.00 and gave the stock a buy rating in a research report on Monday, December 11th. Goldman Sachs Group raised BioMarin Pharmaceutical from a buy rating to a conviction-buy rating in a research report on Friday, December 15th. BidaskClub lowered BioMarin Pharmaceutical from a sell rating to a strong sell rating in a research report on Saturday, January 20th. JPMorgan Chase & Co. set a $130.00 target price on BioMarin Pharmaceutical and gave the stock a buy rating in a research report on Sunday, October 29th. Finally, Zacks Investment Research raised BioMarin Pharmaceutical from a hold rating to a buy rating and set a $101.00 target price on the stock in a research report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $111.28.
Shares of BioMarin Pharmaceutical (BMRN) traded down $0.95 during mid-day trading on Friday, reaching $83.05. The company’s stock had a trading volume of 2,125,765 shares, compared to its average volume of 1,370,000. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.81 and a current ratio of 4.91. BioMarin Pharmaceutical has a 12 month low of $78.50 and a 12 month high of $100.51. The firm has a market cap of $14,420.00, a price-to-earnings ratio of -91.26 and a beta of 1.71.
In related news, EVP George Eric Davis sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $90.66, for a total transaction of $2,719,800.00. Following the completion of the sale, the executive vice president now owns 112,942 shares in the company, valued at approximately $10,239,321.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jean Jacques Bienaime sold 20,000 shares of the stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $89.75, for a total value of $1,795,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,750 shares of company stock worth $9,005,888. 1.85% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in BMRN. American Century Companies Inc. boosted its stake in BioMarin Pharmaceutical by 49.8% during the 4th quarter. American Century Companies Inc. now owns 920,762 shares of the biotechnology company’s stock valued at $82,104,000 after purchasing an additional 305,900 shares during the period. Carillon Tower Advisers Inc. bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter worth approximately $22,892,000. TCW Group Inc. lifted its position in shares of BioMarin Pharmaceutical by 20.1% in the 3rd quarter. TCW Group Inc. now owns 1,072,969 shares of the biotechnology company’s stock worth $99,862,000 after acquiring an additional 179,879 shares during the period. Pictet Asset Management Ltd. lifted its position in shares of BioMarin Pharmaceutical by 17.0% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,134,622 shares of the biotechnology company’s stock worth $105,599,000 after acquiring an additional 164,788 shares during the period. Finally, Millennium Management LLC lifted its position in shares of BioMarin Pharmaceutical by 33.7% in the 4th quarter. Millennium Management LLC now owns 634,864 shares of the biotechnology company’s stock worth $56,611,000 after acquiring an additional 160,132 shares during the period. Hedge funds and other institutional investors own 98.77% of the company’s stock.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).
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