BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Raised to $118.00

BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) had its price target increased by research analysts at Stifel Nicolaus from $114.00 to $118.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 16.84% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Wedbush dropped their target price on shares of BioMarin Pharmaceutical from $83.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday. Evercore ISI lifted their target price on BioMarin Pharmaceutical to $130.00 in a research report on Friday, December 2nd. Credit Suisse Group upped their price target on BioMarin Pharmaceutical from $110.00 to $127.00 and gave the company an “outperform” rating in a report on Tuesday. Oppenheimer downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 22nd. Finally, Morgan Stanley reduced their price objective on BioMarin Pharmaceutical from $132.00 to $131.00 and set an “overweight” rating for the company in a research report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average target price of $120.37.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $100.99 on Tuesday. The company has a market capitalization of $18.73 billion, a PE ratio of 136.47 and a beta of 0.39. BioMarin Pharmaceutical has a one year low of $70.73 and a one year high of $117.77. The company has a debt-to-equity ratio of 0.24, a current ratio of 5.15 and a quick ratio of 3.54. The company’s fifty day moving average price is $108.62 and its 200 day moving average price is $97.58.

Insider Buying and Selling

In related news, EVP Jeffrey Robert Ajer sold 49,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $115.70, for a total transaction of $5,669,300.00. Following the completion of the transaction, the executive vice president now owns 41,088 shares in the company, valued at approximately $4,753,881.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other BioMarin Pharmaceutical news, CFO Brian Mueller sold 7,001 shares of BioMarin Pharmaceutical stock in a transaction on Friday, December 2nd. The stock was sold at an average price of $104.50, for a total value of $731,604.50. Following the completion of the transaction, the chief financial officer now owns 27,746 shares in the company, valued at approximately $2,899,457. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey Robert Ajer sold 49,000 shares of BioMarin Pharmaceutical stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $115.70, for a total value of $5,669,300.00. Following the completion of the transaction, the executive vice president now owns 41,088 shares of the company’s stock, valued at approximately $4,753,881.60. The disclosure for this sale can be found here. Insiders sold 104,501 shares of company stock worth $11,763,315 in the last 90 days. 1.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of BioMarin Pharmaceutical by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 17,108,289 shares of the biotechnology company’s stock valued at $1,450,270,000 after buying an additional 263,453 shares during the period. Parnassus Investments LLC increased its stake in shares of BioMarin Pharmaceutical by 2.0% in the 2nd quarter. Parnassus Investments LLC now owns 2,781,420 shares of the biotechnology company’s stock valued at $230,496,000 after buying an additional 55,490 shares during the period. Norges Bank acquired a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at $285,013,000. Geode Capital Management LLC increased its stake in shares of BioMarin Pharmaceutical by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 2,584,104 shares of the biotechnology company’s stock valued at $267,112,000 after buying an additional 69,581 shares during the period. Finally, UBS Asset Management Americas Inc. grew its stake in shares of BioMarin Pharmaceutical by 0.7% during the second quarter. UBS Asset Management Americas Inc. now owns 1,562,365 shares of the biotechnology company’s stock worth $129,473,000 after purchasing an additional 10,748 shares during the period. 96.26% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Company Profile

(Get Rating)

BioMarin Pharmaceutical, Inc engages in the development and commercialization of therapies for people with serious and life-threatening rare diseases and medical conditions. Its pipeline products include Valoctocogene roxaparvovec, Vosoritide, and BMN 307. The company was founded by John C. Klock, Christopher M.