Brokerages Set BioMarin Pharmaceutical Inc. (BMRN) Target Price at $118.39
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been assigned an average rating of “Buy” from the twenty-three ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, sixteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $118.39.
A number of equities analysts have commented on the stock. BidaskClub downgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Thursday, November 8th. Wedbush set a $127.00 target price on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Wednesday, November 14th. Stifel Nicolaus lifted their target price on shares of BioMarin Pharmaceutical from $102.00 to $109.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Morgan Stanley lifted their target price on shares of BioMarin Pharmaceutical from $113.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, August 3rd. Finally, TheStreet raised shares of BioMarin Pharmaceutical from a “d+” rating to a “c-” rating in a research note on Friday, August 17th.
NASDAQ:BMRN opened at $93.71 on Friday. The company has a current ratio of 2.87, a quick ratio of 2.26 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $17.04 billion, a PE ratio of -139.87 and a beta of 1.65. BioMarin Pharmaceutical has a twelve month low of $75.81 and a twelve month high of $106.74.
In other news, Director V Bryan Lawlis sold 2,150 shares of the business’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $97.93, for a total value of $210,549.50. Following the sale, the director now directly owns 21,310 shares of the company’s stock, valued at approximately $2,086,888.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard A. Meier sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $100.12, for a total transaction of $200,240.00. Following the completion of the sale, the director now directly owns 69,610 shares in the company, valued at $6,969,353.20. The disclosure for this sale can be found here. Insiders sold a total of 74,650 shares of company stock worth $7,320,100 over the last three months. Insiders own 1.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in BMRN. Capital International Investors purchased a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at approximately $204,025,000. Senator Investment Group LP acquired a new position in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $94,200,000. Capital World Investors grew its holdings in shares of BioMarin Pharmaceutical by 34.3% in the third quarter. Capital World Investors now owns 2,461,841 shares of the biotechnology company’s stock valued at $238,725,000 after purchasing an additional 628,738 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of BioMarin Pharmaceutical by 74.4% in the third quarter. First Trust Advisors LP now owns 1,227,500 shares of the biotechnology company’s stock valued at $119,031,000 after purchasing an additional 523,649 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its holdings in shares of BioMarin Pharmaceutical by 42.8% in the second quarter. Frontier Capital Management Co. LLC now owns 1,210,472 shares of the biotechnology company’s stock valued at $114,026,000 after purchasing an additional 362,531 shares in the last quarter.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical, Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.
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