BioMarin Pharmaceutical (BMRN) Given Buy Rating at Citigroup
BMRN has been the topic of several other reports. ValuEngine downgraded shares of BioMarin Pharmaceutical from a buy rating to a hold rating in a research report on Wednesday, February 20th. Robert W. Baird set a $120.00 target price on shares of BioMarin Pharmaceutical and gave the stock a buy rating in a research report on Tuesday, April 2nd. Wedbush reissued an outperform rating and set a $127.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 7th. BidaskClub downgraded shares of BioMarin Pharmaceutical from a sell rating to a strong sell rating in a research report on Friday, March 22nd. Finally, Barclays reissued a hold rating and set a $95.00 target price on shares of BioMarin Pharmaceutical in a research report on Sunday, February 24th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen 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 $116.00.
NASDAQ BMRN opened at $89.07 on Thursday. BioMarin Pharmaceutical has a 1-year low of $79.13 and a 1-year high of $106.74. The company has a quick ratio of 2.76, a current ratio of 3.83 and a debt-to-equity ratio of 0.28.
In other news, SVP Brian Mueller sold 2,953 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $94.00, for a total value of $277,582.00. Following the sale, the senior vice president now directly owns 13,660 shares of the company’s stock, valued at $1,284,040. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Daniel K. Spiegelman sold 13,473 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $89.00, for a total value of $1,199,097.00. Following the completion of the sale, the chief financial officer now directly owns 47,510 shares in the company, valued at $4,228,390. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,011 shares of company stock worth $8,945,008. 1.90% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of BMRN. Doyle Wealth Management bought a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at about $26,000. Rational Advisors LLC lifted its stake in shares of BioMarin Pharmaceutical by 3,211.1% in the first quarter. Rational Advisors LLC now owns 298 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 289 shares during the period. Commonwealth Bank of Australia lifted its stake in shares of BioMarin Pharmaceutical by 49.6% in the fourth quarter. Commonwealth Bank of Australia now owns 350 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 116 shares during the period. Lindbrook Capital LLC bought a new position in BioMarin Pharmaceutical during the fourth quarter worth about $30,000. Finally, PRW Wealth Management LLC bought a new position in BioMarin Pharmaceutical during the fourth quarter worth about $30,000. 98.55% of the stock is currently owned by institutional investors.
About BioMarin Pharmaceutical
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 to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.
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