BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “outperform” rating reiterated by Wedbush in a report issued on Monday. They currently have a $110.00 target price on the biotechnology company’s stock. Wedbush’s target price would suggest a potential upside of 31.25% from the stock’s current price.
Several other brokerages also recently weighed in on BMRN. BidaskClub upgraded BioMarin Pharmaceutical from a “strong sell” rating to a “sell” rating in a research note on Saturday, December 16th. JPMorgan Chase & Co. lowered 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. Zacks Investment Research downgraded BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Wednesday, January 17th. Piper Jaffray Companies reiterated a “buy” rating and issued a $114.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, January 18th. Finally, 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. BioMarin Pharmaceutical presently has an average rating of “Buy” and an average target price of $112.34.
BioMarin Pharmaceutical (BMRN) opened at $83.81 on Monday. BioMarin Pharmaceutical has a 12 month low of $77.04 and a 12 month high of $100.51. The firm has a market capitalization of $14,756.62, a P/E ratio of -125.09 and a beta of 1.74. The company has a quick ratio of 2.12, a current ratio of 2.70 and a debt-to-equity ratio of 0.29.
In related news, Director Elaine J. Heron sold 800 shares of BioMarin Pharmaceutical stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $88.90, for a total transaction of $71,120.00. Following the completion of the transaction, the director now directly owns 38,385 shares of the company’s stock, valued at $3,412,426.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical stock in a transaction on Friday, December 29th. The stock was sold at an average price of $89.75, for a total value of $1,795,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,655 shares of company stock valued at $9,069,499. 1.85% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Sumitomo Mitsui Asset Management Company LTD raised its holdings in BioMarin Pharmaceutical by 0.3% during the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 10,794 shares of the biotechnology company’s stock worth $1,130,000 after purchasing an additional 30 shares during the last quarter. Douglass Winthrop Advisors LLC raised its holdings in shares of BioMarin Pharmaceutical by 1.1% in the third quarter. Douglass Winthrop Advisors LLC now owns 3,110 shares of the biotechnology company’s stock worth $288,000 after acquiring an additional 35 shares during the last quarter. Cigna Investments Inc. New raised its holdings in shares of BioMarin Pharmaceutical by 1.5% in the second quarter. Cigna Investments Inc. New now owns 2,377 shares of the biotechnology company’s stock worth $216,000 after acquiring an additional 36 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of BioMarin Pharmaceutical by 1.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,950 shares of the biotechnology company’s stock worth $450,000 after acquiring an additional 50 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of BioMarin Pharmaceutical by 1.8% in the second quarter. Ameritas Investment Partners Inc. now owns 3,126 shares of the biotechnology company’s stock worth $284,000 after acquiring an additional 54 shares during the last quarter.
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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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