Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) rose 8.4% during trading on Thursday . The stock 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.

BMRN has been the topic of several research analyst reports. Piper Jaffray Cos. reissued an “overweight” rating and set a $107.00 price target on shares of BioMarin Pharmaceutical in a research note on Monday, March 28th. Credit Suisse Group AG reissued a “buy” rating and set a $114.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, April 29th. Barclays PLC reissued a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Thursday, June 16th. Wedbush reissued a “neutral” rating and set a $108.00 price target on shares of BioMarin Pharmaceutical in a research note on Tuesday, April 19th. Finally, BMO Capital Markets initiated coverage on shares of BioMarin Pharmaceutical in a research note on Thursday, April 7th. They set an “outperform” rating and a $99.00 price target on the stock. Three analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $123.82.

The company’s 50-day moving average price is $84.02 and its 200 day moving average price is $84.40. The stock’s market capitalization is $14.85 billion.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Thursday, April 28th. The company reported ($0.53) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.85) by $0.32. The firm earned $236.70 million during the quarter, compared to the consensus estimate of $240.21 million. During the same period in the prior year, the company posted ($0.43) earnings per share. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. On average, analysts expect that BioMarin Pharmaceutical Inc. will post ($3.02) earnings per share for the current year.

In other news, CEO Jean Jacques Bienaime sold 50,000 shares of the company’s stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $80.15, for a total value of $4,007,500.00. Following the sale, the chief executive officer now directly owns 390,156 shares of the company’s stock, valued at approximately $31,271,003.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director V Bryan Lawlis sold 550 shares of the company’s stock in a transaction on Monday, June 20th. The shares were sold at an average price of $82.77, for a total transaction of $45,523.50. Following the completion of the sale, the director now directly owns 13,860 shares in the company, valued at $1,147,192.20. The disclosure for this sale can be found here.

Several hedge funds and institutional investors recently added to or reduced their stakes in BMRN. Vanguard Group Inc. increased its position in BioMarin Pharmaceutical by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 11,195,877 shares of the company’s stock worth $1,172,880,000 after buying an additional 355,727 shares during the last quarter. CAM Group Holding A S increased its position in BioMarin Pharmaceutical by 73.6% in the fourth quarter. CAM Group Holding A S now owns 127,575 shares of the company’s stock worth $13,365,000 after buying an additional 54,100 shares during the last quarter. Columbus Circle Investors increased its position in BioMarin Pharmaceutical by 16.6% in the fourth quarter. Columbus Circle Investors now owns 263,999 shares of the company’s stock worth $27,657,000 after buying an additional 37,615 shares during the last quarter. GAM Holding AG increased its position in BioMarin Pharmaceutical by 60.4% in the fourth quarter. GAM Holding AG now owns 89,329 shares of the company’s stock worth $9,358,000 after buying an additional 33,651 shares during the last quarter. Finally, Jennison Associates increased its position in BioMarin Pharmaceutical by 25.0% in the third quarter. Jennison Associates now owns 150,000 shares of the company’s stock worth $15,798,000 after buying an additional 30,000 shares during the last quarter.

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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