BioMarin Pharmaceutical (NASDAQ:BMRN) PT Lowered to $102.00

BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) had its target price reduced by stock analysts at BMO Capital Markets from $107.00 to $102.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “market perform” rating on the biotechnology company’s stock. BMO Capital Markets’ target price would indicate a potential upside of 8.15% from the company’s current price.

Several other equities research analysts also recently issued reports on BMRN. Bank of America lifted their price objective on BioMarin Pharmaceutical to $200.00 in a report on Wednesday, January 4th. Wedbush dropped their price objective on BioMarin Pharmaceutical from $83.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday, February 28th. Evercore ISI lifted their price objective on BioMarin Pharmaceutical to $130.00 in a report on Friday, December 2nd. Jefferies Financial Group lifted their price objective on BioMarin Pharmaceutical from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, November 29th. Finally, Morgan Stanley lowered their price target on BioMarin Pharmaceutical from $132.00 to $131.00 and set an “overweight” rating for the company in a report on Tuesday, February 28th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.11.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $94.31 on Tuesday. The stock’s 50 day moving average price is $107.93 and its 200 day moving average price is $97.66. The firm has a market capitalization of $17.59 billion, a PE ratio of 127.45 and a beta of 0.39. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.15 and a current ratio of 4.67. BioMarin Pharmaceutical has a one year low of $70.73 and a one year high of $117.77.

Insider Activity

In other news, CEO Jean Jacques Bienaime sold 1,000 shares of the company’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $106.89, for a total value of $106,890.00. Following the completion of the sale, the chief executive officer now owns 320,424 shares in the company, valued at $34,250,121.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Brian Mueller sold 2,500 shares of the company’s stock in a transaction on Friday, January 13th. The stock was sold at an average price of $114.50, for a total transaction of $286,250.00. Following the completion of the sale, the chief financial officer now directly owns 27,746 shares of the company’s stock, valued at $3,176,917. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jean Jacques Bienaime sold 1,000 shares of the company’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $106.89, for a total value of $106,890.00. Following the sale, the chief executive officer now directly owns 320,424 shares of the company’s stock, valued at $34,250,121.36. The disclosure for this sale can be found here. Insiders sold a total of 96,000 shares of company stock worth $10,875,740 over the last 90 days. 1.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several hedge funds have recently modified their holdings of the stock. Rhumbline Advisers raised its position in BioMarin Pharmaceutical by 17.9% during the second quarter. Rhumbline Advisers now owns 192,672 shares of the biotechnology company’s stock valued at $15,967,000 after buying an additional 29,286 shares during the period. Hancock Whitney Corp acquired a new position in BioMarin Pharmaceutical during the second quarter valued at $208,000. Victory Capital Management Inc. raised its position in BioMarin Pharmaceutical by 3.3% during the third quarter. Victory Capital Management Inc. now owns 735,470 shares of the biotechnology company’s stock valued at $62,346,000 after buying an additional 23,652 shares during the period. Asset Management One Co. Ltd. increased its position in BioMarin Pharmaceutical by 9.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 95,156 shares of the biotechnology company’s stock worth $8,066,000 after purchasing an additional 8,182 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its position in BioMarin Pharmaceutical by 99.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 90,326 shares of the biotechnology company’s stock worth $7,485,000 after purchasing an additional 44,936 shares during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Company Profile

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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.