BioMarin Pharmaceutical (NASDAQ:BMRN) Receives “Neutral” Rating from HC Wainwright

BioMarin Pharmaceutical (NASDAQ:BMRNGet Free Report)‘s stock had its “neutral” rating reiterated by research analysts at HC Wainwright in a report released on Tuesday,Benzinga reports. They presently have a $55.00 price objective on the biotechnology company’s stock. HC Wainwright’s target price would suggest a potential downside of 0.83% from the stock’s previous close.

Several other equities analysts have also weighed in on BMRN. Piper Sandler reduced their target price on shares of BioMarin Pharmaceutical from $122.00 to $84.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Barclays raised their price objective on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Loop Capital set a $105.00 target price on BioMarin Pharmaceutical in a research report on Monday, March 2nd. Weiss Ratings upgraded BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday. Finally, Canaccord Genuity Group raised their target price on BioMarin Pharmaceutical from $98.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.91.

Check Out Our Latest Stock Report on BMRN

BioMarin Pharmaceutical Trading Up 2.6%

Shares of BMRN stock opened at $55.46 on Tuesday. The company has a quick ratio of 3.50, a current ratio of 5.21 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical has a fifty-two week low of $50.76 and a fifty-two week high of $66.28. The firm’s 50 day moving average price is $56.93 and its two-hundred day moving average price is $56.32. The stock has a market cap of $10.72 billion, a price-to-earnings ratio of 31.16, a price-to-earnings-growth ratio of 0.54 and a beta of 0.23.

Insider Buying and Selling

In related news, EVP Gregory R. Friberg sold 6,326 shares of BioMarin Pharmaceutical stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $60.38, for a total value of $381,963.88. Following the completion of the sale, the executive vice president owned 37,578 shares in the company, valued at approximately $2,268,959.64. The trade was a 14.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles Greg Guyer sold 16,486 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $60.46, for a total transaction of $996,743.56. Following the completion of the sale, the executive vice president directly owned 79,953 shares in the company, valued at $4,833,958.38. This represents a 17.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Activest Wealth Management acquired a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at about $26,000. Quent Capital LLC acquired a new position in BioMarin Pharmaceutical in the third quarter worth about $28,000. CIBC Private Wealth Group LLC grew its stake in BioMarin Pharmaceutical by 38.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 179 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in BioMarin Pharmaceutical by 92.5% in the third quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 360 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in BioMarin Pharmaceutical in the third quarter valued at about $40,000. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical News Roundup

Here are the key news stories impacting BioMarin Pharmaceutical this week:

BioMarin Pharmaceutical Company Profile

(Get Free Report)

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.

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