BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report)'s stock had its "outperform" rating reissued by Wedbush in a note issued to investors on Tuesday,RTT News reports. They presently have a $94.00 target price on the biotechnology company's stock. Wedbush's target price points to a potential upside of 51.02% from the stock's current price.
A number of other equities research analysts also recently issued reports on the stock. Wolfe Research set a $95.00 price objective on shares of BioMarin Pharmaceutical and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Wall Street Zen cut shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. The Goldman Sachs Group dropped their price target on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Morgan Stanley reduced their target price on BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating for the company in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Six equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $93.78.
Get Our Latest Stock Analysis on BMRN
BioMarin Pharmaceutical Price Performance
BMRN traded up $1.93 during trading on Tuesday, reaching $62.24. 1,233,643 shares of the stock were exchanged, compared to its average volume of 1,887,433. The company has a market capitalization of $11.94 billion, a price-to-earnings ratio of 23.21, a P/E/G ratio of 0.80 and a beta of 0.18. BioMarin Pharmaceutical has a 1 year low of $52.93 and a 1 year high of $94.85. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.52 and a quick ratio of 3.49. The business's 50 day moving average price is $57.16 and its two-hundred day moving average price is $61.79.
Insider Transactions at BioMarin Pharmaceutical
In related news, CAO Erin Burkhart sold 1,786 shares of BioMarin Pharmaceutical stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total transaction of $105,927.66. Following the completion of the sale, the chief accounting officer owned 14,173 shares of the company's stock, valued at $840,600.63. The trade was a 11.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.85% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. Rise Advisors LLC purchased a new position in BioMarin Pharmaceutical during the first quarter valued at $30,000. Farther Finance Advisors LLC grew its stake in BioMarin Pharmaceutical by 95.9% during the first quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock worth $29,000 after buying an additional 211 shares during the period. V Square Quantitative Management LLC bought a new position in BioMarin Pharmaceutical in the 2nd quarter valued at about $25,000. LRI Investments LLC boosted its stake in shares of BioMarin Pharmaceutical by 856.9% in the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company's stock valued at $32,000 after purchasing an additional 437 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in BioMarin Pharmaceutical by 71.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock valued at $37,000 after purchasing an additional 218 shares during the period. 98.71% of the stock is currently owned by institutional investors.
About BioMarin Pharmaceutical
(
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BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; 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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