BioMarin Pharmaceutical (BMRN) Receives “Hold” Rating from Royal Bank of Canada
Royal Bank of Canada reaffirmed their hold rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research report sent to investors on Tuesday morning. Royal Bank of Canada currently has a $94.00 price objective on the biotechnology company’s stock.
BMRN has been the topic of a number of other research reports. BidaskClub lowered BioMarin Pharmaceutical from a sell rating to a strong sell rating in a research note on Saturday, January 20th. JPMorgan Chase & Co. reduced their target price on BioMarin Pharmaceutical from $131.00 to $129.00 and set an outperform rating on the stock in a research note on Wednesday, January 24th. Goldman Sachs Group upgraded BioMarin Pharmaceutical from a buy rating to a conviction-buy rating in a research note on Friday, December 15th. Credit Suisse Group reiterated an outperform rating and issued a $113.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, January 18th. Finally, Zacks Investment Research upgraded BioMarin Pharmaceutical from a hold rating to a buy rating and set a $101.00 target price on the stock in a research note on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $112.34.
Shares of BioMarin Pharmaceutical (BMRN) opened at $79.86 on Tuesday. The company has a quick ratio of 3.81, a current ratio of 2.70 and a debt-to-equity ratio of 0.29. BioMarin Pharmaceutical has a 52 week low of $77.04 and a 52 week high of $100.51.
A number of hedge funds have recently modified their holdings of BMRN. American Century Companies Inc. boosted its position in BioMarin Pharmaceutical by 49.8% during the fourth quarter. American Century Companies Inc. now owns 920,762 shares of the biotechnology company’s stock valued at $82,104,000 after purchasing an additional 305,900 shares in the last quarter. Carillon Tower Advisers Inc. bought a new stake in BioMarin Pharmaceutical during the fourth quarter valued at about $22,892,000. TCW Group Inc. boosted its position in BioMarin Pharmaceutical by 20.1% during the third quarter. TCW Group Inc. now owns 1,072,969 shares of the biotechnology company’s stock valued at $99,862,000 after purchasing an additional 179,879 shares in the last quarter. Pictet Asset Management Ltd. boosted its position in BioMarin Pharmaceutical by 17.0% during the third quarter. Pictet Asset Management Ltd. now owns 1,134,622 shares of the biotechnology company’s stock valued at $105,599,000 after purchasing an additional 164,788 shares in the last quarter. Finally, Millennium Management LLC boosted its position in BioMarin Pharmaceutical by 33.7% during the fourth quarter. Millennium Management LLC now owns 634,864 shares of the biotechnology company’s stock valued at $56,611,000 after purchasing an additional 160,132 shares in the last quarter. 98.77% of the stock is currently owned by institutional investors.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).
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