BioMarin Pharmaceutical (BMRN) Upgraded to C- at TheStreet
BioMarin Pharmaceutical (NASDAQ:BMRN) was upgraded by stock analysts at TheStreet from a “d+” rating to a “c-” rating in a research report issued to clients and investors on Friday.
Several other analysts have also recently issued reports on BMRN. Citigroup increased their price objective on BioMarin Pharmaceutical from $108.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, August 9th. ValuEngine cut BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. Wedbush reiterated an “outperform” rating and issued a $120.00 price objective (up from $115.00) on shares of BioMarin Pharmaceutical in a research note on Monday, August 6th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $135.00 price objective on shares of BioMarin Pharmaceutical in a research note on Sunday, August 5th. Finally, Barclays reiterated a “hold” rating and issued a $98.00 price objective (up from $95.00) on shares of BioMarin Pharmaceutical in a research note on Sunday, August 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $116.28.
NASDAQ:BMRN opened at $99.03 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.24 and a current ratio of 2.83. BioMarin Pharmaceutical has a 52 week low of $75.81 and a 52 week high of $106.20. The firm has a market cap of $17.94 billion, a price-to-earnings ratio of -147.81 and a beta of 1.60.
In related news, insider Henry J. Fuchs sold 31,000 shares of the stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $90.00, for a total value of $2,790,000.00. Following the transaction, the insider now owns 157,167 shares of the company’s stock, valued at $14,145,030. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert Baffi sold 5,173 shares of the stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $105.00, for a total value of $543,165.00. Following the completion of the transaction, the executive vice president now directly owns 83,276 shares in the company, valued at approximately $8,743,980. The disclosure for this sale can be found here. Insiders sold 65,874 shares of company stock worth $6,259,566 in the last three months. 1.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Senator Investment Group LP purchased a new position in BioMarin Pharmaceutical in the second quarter valued at $94,200,000. Waddell & Reed Financial Inc. increased its holdings in BioMarin Pharmaceutical by 5.0% in the second quarter. Waddell & Reed Financial Inc. now owns 3,337,346 shares of the biotechnology company’s stock valued at $314,378,000 after buying an additional 160,247 shares during the last quarter. Worldquant Millennium Quantitative Strategies LLC purchased a new position in BioMarin Pharmaceutical in the second quarter valued at $13,166,000. Zurich Insurance Group Ltd FI purchased a new position in BioMarin Pharmaceutical in the second quarter valued at $3,837,000. Finally, Metropolitan Life Insurance Co. NY increased its holdings in BioMarin Pharmaceutical by 6.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 13,909 shares of the biotechnology company’s stock valued at $1,310,000 after buying an additional 861 shares during the last quarter.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical, Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.
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