BioMarin Pharmaceutical (NASDAQ:BMRN) PT Raised to $115.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target boosted by Evercore ISI from $113.00 to $115.00 in a research note released on Tuesday, Benzinga reports. Evercore ISI currently has an outperform rating on the biotechnology company’s stock.

A number of other brokerages have also issued reports on BMRN. Scotiabank lifted their target price on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the company a sector perform rating in a research report on Thursday, April 25th. Baird R W lowered BioMarin Pharmaceutical from a strong-buy rating to a hold rating in a research report on Friday, May 17th. Robert W. Baird cut shares of BioMarin Pharmaceutical from an outperform rating to a neutral rating and lowered their target price for the stock from $104.00 to $72.00 in a report on Friday, May 17th. Cantor Fitzgerald reiterated an overweight rating and issued a $110.00 price target on shares of BioMarin Pharmaceutical in a research note on Monday, August 5th. Finally, Citigroup lowered their price objective on BioMarin Pharmaceutical from $94.00 to $91.00 and set a neutral rating on the stock in a research note on Thursday, April 25th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $103.63.

BioMarin Pharmaceutical Stock Up 0.8 %

BioMarin Pharmaceutical stock traded up $0.74 during midday trading on Tuesday, reaching $88.64. The stock had a trading volume of 1,364,074 shares, compared to its average volume of 1,875,349. The firm’s fifty day simple moving average is $83.65 and its 200-day simple moving average is $84.93. BioMarin Pharmaceutical has a 1-year low of $73.68 and a 1-year high of $99.56. The stock has a market capitalization of $16.83 billion, a P/E ratio of 82.84, a price-to-earnings-growth ratio of 1.20 and a beta of 0.32. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.70 and a current ratio of 2.74.

Insiders Place Their Bets

In related news, CFO Brian Mueller sold 5,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $75.19, for a total value of $375,950.00. Following the sale, the chief financial officer now owns 72,159 shares of the company’s stock, valued at $5,425,635.21. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP George Eric Davis sold 40,850 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $74.51, for a total transaction of $3,043,733.50. Following the transaction, the executive vice president now owns 56,157 shares in the company, valued at approximately $4,184,258.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian Mueller sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $75.19, for a total transaction of $375,950.00. Following the completion of the sale, the chief financial officer now directly owns 72,159 shares of the company’s stock, valued at $5,425,635.21. The disclosure for this sale can be found here. Insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Innealta Capital LLC acquired a new position in shares of BioMarin Pharmaceutical during the second quarter valued at about $25,000. BOKF NA acquired a new position in shares of BioMarin Pharmaceutical during the second quarter valued at about $31,000. Lindbrook Capital LLC grew its holdings in shares of BioMarin Pharmaceutical by 259.8% during the fourth quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 278 shares during the last quarter. Quent Capital LLC grew its holdings in shares of BioMarin Pharmaceutical by 58.9% during the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 145 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in BioMarin Pharmaceutical by 135.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 249 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.