BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) shares shot up 8.4% during trading on Thursday . The company traded as high as $90.20 and last traded at $87.60, with a volume of 5,262,920 shares changing hands. The stock had previously closed at $80.81.

A number of research firms have commented on BMRN. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Wednesday, April 20th. Barclays PLC reaffirmed an “overweight” rating and set a $105.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, June 3rd. Oppenheimer Holdings Inc. reaffirmed a “hold” rating and set a $99.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, April 26th. Leerink Swann reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Wednesday, June 1st. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Tuesday, May 31st. Three equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $123.82.

The company’s market cap is $14.22 billion. The company has a 50-day moving average price of $83.79 and a 200 day moving average price of $84.47.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, April 28th. The company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.32. The business earned $236.70 million during the quarter, compared to the consensus estimate of $240.21 million. During the same period last year, the firm earned ($0.43) EPS. The business’s quarterly revenue was up 16.7% on a year-over-year basis. Equities analysts anticipate that BioMarin Pharmaceutical Inc. will post ($3.02) earnings per share for the current year.

In other BioMarin Pharmaceutical news, CFO Daniel K. Spiegelman sold 20,841 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $89.88, for a total value of $1,873,189.08. Following the transaction, the chief financial officer now directly owns 71,235 shares of the company’s stock, valued at $6,402,601.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jean Jacques Bienaime sold 36,500 shares of BioMarin Pharmaceutical stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $85.01, for a total transaction of $3,102,865.00. Following the completion of the transaction, the chief executive officer now directly owns 395,635 shares in the company, valued at $33,632,931.35. The disclosure for this sale can be found here.

A number of institutional investors have recently added to or reduced their stakes in the company. TD Asset Management Inc. raised its position in BioMarin Pharmaceutical by 0.3% in the fourth quarter. TD Asset Management Inc. now owns 105,383 shares of the company’s stock valued at $11,040,000 after buying an additional 310 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in shares of BioMarin Pharmaceutical by 0.9% in the fourth quarter. Gulf International Bank UK Ltd now owns 48,075 shares of the company’s stock worth $5,036,000 after buying an additional 410 shares during the period. Mizuho Trust & Banking Co. Ltd. raised its stake in shares of BioMarin Pharmaceutical by 0.3% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 233,477 shares of the company’s stock worth $24,695,000 after buying an additional 802 shares during the period. Rhumbline Advisers raised its stake in shares of BioMarin Pharmaceutical by 1.0% in the fourth quarter. Rhumbline Advisers now owns 158,246 shares of the company’s stock worth $16,578,000 after buying an additional 1,550 shares during the period. Finally, New York State Common Retirement Fund raised its stake in shares of BioMarin Pharmaceutical by 1.2% in the fourth quarter. New York State Common Retirement Fund now owns 432,300 shares of the company’s stock worth $45,288,000 after buying an additional 5,100 shares during the period.

BioMarin Pharmaceutical Inc (BioMarin) develops and commercializes pharmaceuticals for various diseases and medical conditions. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. Its approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate).

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