BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) shares rose 6.6% on Wednesday . The stock traded as high as $98.71 and last traded at $98.09, with a volume of 5,856,558 shares changing hands. The stock had previously closed at $92.02.

BMRN has been the topic of several research analyst reports. Credit Suisse Group AG reissued a “buy” rating and issued a $114.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, April 29th. Barclays PLC reissued a “buy” rating on shares of BioMarin Pharmaceutical in a report on Thursday, June 16th. Leerink Swann reissued an “outperform” rating and issued a $107.00 price target on shares of BioMarin Pharmaceutical in a report on Wednesday, June 22nd. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a report on Wednesday, April 20th. Finally, Wedbush reaffirmed a “neutral” rating and set a $108.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday, April 19th. Three investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $123.25.

In other news, EVP Jeffrey Robert Ajer sold 415 shares of the stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $86.03, for a total transaction of $35,702.45. Following the transaction, the executive vice president now owns 63,487 shares in the company, valued at approximately $5,461,786.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director V Bryan Lawlis sold 6,400 shares of the stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $95.01, for a total value of $608,064.00. Following the transaction, the director now owns 20,260 shares in the company, valued at approximately $1,924,902.60. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have made changes to their positions in BMRN. ING Groep raised its position in shares of BioMarin Pharmaceutical by 524.1% in the third quarter. ING Groep now owns 15,460 shares of the company’s stock worth $1,628,000 after buying an additional 12,983 shares during the period. Utah Retirement Systems raised its position in shares of BioMarin Pharmaceutical by 0.3% in the fourth quarter. Utah Retirement Systems now owns 28,781 shares of the company’s stock worth $3,016,000 after buying an additional 100 shares during the period. I.G. Investment Management LTD. raised its position in shares of BioMarin Pharmaceutical by 20.1% in the fourth quarter. I.G. Investment Management LTD. now owns 32,380 shares of the company’s stock worth $3,392,000 after buying an additional 5,430 shares during the period. Gulf International Bank UK Ltd raised its position 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. Finally, Jennison Associates raised its position in shares of 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 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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