Analysts at Canaccord Genuity Group assumed coverage on shares of BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage set a “hold” rating and a $119.00 price target on the biotechnology company’s stock. Canaccord Genuity Group’s target price indicates a potential upside of 8.97% from the company’s previous close.
A number of other analysts have also recently weighed in on the stock. TheStreet raised shares of BioMarin Pharmaceutical from a “c” rating to a “b-” rating in a report on Thursday, October 27th. Bank of America raised their price objective on shares of BioMarin Pharmaceutical to $200.00 in a report on Wednesday, January 4th. JPMorgan Chase & Co. cut their price objective on shares of BioMarin Pharmaceutical from $140.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, October 24th. Stifel Nicolaus raised their price objective on shares of BioMarin Pharmaceutical to $104.00 in a report on Wednesday, September 28th. Finally, Morgan Stanley raised their price objective on shares of BioMarin Pharmaceutical from $111.00 to $113.00 and gave the stock an “overweight” rating in a report on Thursday, October 27th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average price target of $119.00.
BioMarin Pharmaceutical Stock Down 1.3 %
Shares of BioMarin Pharmaceutical stock opened at $109.20 on Wednesday. BioMarin Pharmaceutical has a 52-week low of $70.73 and a 52-week high of $114.80. The company has a 50 day moving average of $102.31 and a 200 day moving average of $93.27. The company has a quick ratio of 3.54, a current ratio of 5.15 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $20.25 billion, a P/E ratio of 260.00 and a beta of 0.36.
Insider Buying and Selling at BioMarin Pharmaceutical
In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 1,500 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $86.55, for a total value of $129,825.00. Following the transaction, the chief executive officer now directly owns 322,824 shares of the company’s stock, valued at approximately $27,940,417.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Mark J. Alles bought 3,625 shares of the firm’s stock in a transaction on Monday, October 31st. The shares were bought at an average cost of $86.75 per share, for a total transaction of $314,468.75. Following the transaction, the director now owns 10,905 shares of the company’s stock, valued at $946,008.75. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jean Jacques Bienaime sold 1,500 shares of the business’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $86.55, for a total transaction of $129,825.00. Following the sale, the chief executive officer now owns 322,824 shares in the company, valued at $27,940,417.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,380 shares of company stock valued at $4,706,718. 1.75% of the stock is owned by company insiders.
Institutional Investors Weigh In On BioMarin Pharmaceutical
Institutional investors have recently made changes to their positions in the stock. Altshuler Shaham Ltd purchased a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter worth $25,000. Quadrant Capital Group LLC boosted its position in shares of BioMarin Pharmaceutical by 188.6% during the 2nd quarter. Quadrant Capital Group LLC now owns 355 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 232 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of BioMarin Pharmaceutical by 395.4% during the 1st quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 344 shares in the last quarter. Capital Wealth Alliance LLC purchased a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter worth about $34,000. Finally, Baystate Wealth Management LLC purchased a new stake in shares of BioMarin Pharmaceutical in the 4th quarter worth about $41,000. 96.26% of the stock is currently owned by hedge funds and other 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.
- Get a free copy of the StockNews.com research report on BioMarin Pharmaceutical (BMRN)
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