BioMarin Pharmaceutical (NASDAQ:BMRN) Downgraded by StockNews.com to Hold

StockNews.com cut shares of BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

Several other research analysts also recently commented on the company. Robert W. Baird reaffirmed an outperform rating and set a $112.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday, June 28th. Jefferies Financial Group reissued a buy rating and issued a $100.00 price objective on shares of BioMarin Pharmaceutical in a research report on Wednesday, May 4th. Cantor Fitzgerald assumed coverage on BioMarin Pharmaceutical in a research report on Tuesday, July 12th. They issued an overweight rating and a $110.00 price objective for the company. Wedbush reissued a hold rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, June 24th. Finally, Morgan Stanley raised BioMarin Pharmaceutical from an equal weight rating to an overweight rating and lifted their price objective for the stock from $96.00 to $113.00 in a research report on Monday, April 25th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, BioMarin Pharmaceutical currently has an average rating of Moderate Buy and a consensus price target of $108.57.

BioMarin Pharmaceutical Stock Down 0.7 %

Shares of BMRN opened at $85.41 on Monday. The company has a market capitalization of $15.80 billion, a PE ratio of 474.50, a PEG ratio of 1.81 and a beta of 0.33. BioMarin Pharmaceutical has a 12 month low of $70.73 and a 12 month high of $94.20. The stock’s 50-day moving average price is $81.88 and its two-hundred day moving average price is $82.06. The company has a current ratio of 4.88, a quick ratio of 3.28 and a debt-to-equity ratio of 0.25.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 1,308 shares of the business’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $78.94, for a total transaction of $103,253.52. Following the completion of the sale, the executive vice president now directly owns 54,109 shares of the company’s stock, valued at approximately $4,271,364.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Jeffrey Robert Ajer sold 1,308 shares of the business’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $78.94, for a total value of $103,253.52. Following the transaction, the executive vice president now owns 54,109 shares in the company, valued at approximately $4,271,364.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP George Eric Davis sold 7,398 shares of the business’s stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $90.00, for a total value of $665,820.00. Following the completion of the transaction, the executive vice president now owns 58,941 shares in the company, valued at approximately $5,304,690. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,843 shares of company stock valued at $3,264,235. Corporate insiders own 1.75% of the company’s stock.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC lifted its stake in BioMarin Pharmaceutical by 395.4% in the first quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 344 shares during the last quarter. CWM LLC lifted its stake in BioMarin Pharmaceutical by 435.2% in the first quarter. CWM LLC now owns 487 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 396 shares during the last quarter. Desjardins Global Asset Management Inc. purchased a new position in BioMarin Pharmaceutical in the fourth quarter valued at approximately $53,000. Covington Capital Management lifted its stake in BioMarin Pharmaceutical by 40.8% in the second quarter. Covington Capital Management now owns 704 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 204 shares during the last quarter. Finally, CKW Financial Group lifted its stake in BioMarin Pharmaceutical by 23.1% in the first quarter. CKW Financial Group now owns 800 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

BioMarin Pharmaceutical Company Profile

(Get Rating)

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.

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