BioMarin Pharmaceutical Inc. (BMRN) Receives $108.83 Consensus PT from Brokerages
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been given a consensus rating of “Buy” by the twenty-three ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, fourteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $108.83.
BMRN has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research note on Tuesday, January 16th. Piper Jaffray Companies restated a “buy” rating and set a $114.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, January 18th. SunTrust Banks raised their price objective on shares of BioMarin Pharmaceutical to $130.00 and gave the company a “buy” rating in a research note on Monday, December 11th. JPMorgan Chase & Co. set a $131.00 price objective on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a research note on Monday, November 27th. Finally, Deutsche Bank set a $124.00 price objective on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a research note on Friday, February 23rd.
BioMarin Pharmaceutical (BMRN) traded down $1.50 during trading hours on Friday, reaching $84.66. 190,193 shares of the company’s stock were exchanged, compared to its average volume of 1,346,453. The company has a market cap of $15,130.00, a price-to-earnings ratio of -93.04 and a beta of 1.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.12 and a current ratio of 2.70. BioMarin Pharmaceutical has a 1-year low of $77.04 and a 1-year high of $100.51.
In related news, Director Elaine J. Heron sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $88.90, for a total value of $71,120.00. Following the transaction, the director now owns 38,385 shares of the company’s stock, valued at $3,412,426.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director V Bryan Lawlis sold 3,750 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $88.84, for a total transaction of $333,150.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,627 shares of company stock worth $9,314,362. Insiders own 1.85% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB boosted its holdings in shares of BioMarin Pharmaceutical by 10.5% in the fourth quarter. Xact Kapitalforvaltning AB now owns 23,186 shares of the biotechnology company’s stock worth $2,067,000 after buying an additional 2,212 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of BioMarin Pharmaceutical by 6.8% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 117,584 shares of the biotechnology company’s stock worth $10,485,000 after buying an additional 7,517 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in shares of BioMarin Pharmaceutical by 64.6% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,410 shares of the biotechnology company’s stock worth $750,000 after buying an additional 3,300 shares during the last quarter. Slow Capital Inc. purchased a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth approximately $615,000. Finally, Endurant Capital Management LP purchased a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth approximately $901,000.
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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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