Wedbush reissued their outperform rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a report released on Monday. The firm currently has a $110.00 price objective on the biotechnology company’s stock.
Other analysts also recently issued reports about the company. Leerink Swann decreased their price objective on BioMarin Pharmaceutical from $142.00 to $132.00 and set an outperform rating for the company in a report on Friday, February 23rd. Deutsche Bank set a $124.00 price objective on BioMarin Pharmaceutical and gave the company a buy rating in a report on Friday, February 23rd. Zacks Investment Research downgraded BioMarin Pharmaceutical from a buy rating to a hold rating in a report on Wednesday, January 17th. SunTrust Banks increased their price objective on BioMarin Pharmaceutical to $130.00 and gave the company a buy rating in a report on Monday, December 11th. Finally, Credit Suisse Group restated a buy rating and issued a $113.00 price objective on shares of BioMarin Pharmaceutical in a report on Sunday, February 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $112.34.
Shares of BioMarin Pharmaceutical (BMRN) opened at $85.46 on Monday. The firm has a market capitalization of $14,756.62, a price-to-earnings ratio of -127.55 and a beta of 1.74. BioMarin Pharmaceutical has a 1-year low of $77.04 and a 1-year high of $100.51. 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 other BioMarin Pharmaceutical news, insider Henry J. Fuchs sold 15,000 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $89.23, for a total transaction of $1,338,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Elaine J. Heron sold 800 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $88.90, for a total value of $71,120.00. Following the sale, the director now owns 38,385 shares of the company’s stock, valued at $3,412,426.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,655 shares of company stock valued at $9,069,499. Company insiders own 1.85% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. First Manhattan Co. grew its stake in shares of BioMarin Pharmaceutical by 104.2% in the 4th quarter. First Manhattan Co. now owns 1,225 shares of the biotechnology company’s stock valued at $109,000 after buying an additional 625 shares during the period. Financial Gravity Companies Inc. acquired a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at about $112,000. Commerce Bank acquired a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at about $209,000. Teacher Retirement System of Texas acquired a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at about $220,000. Finally, First Republic Investment Management Inc. acquired a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at about $220,000.
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BioMarin Pharmaceutical Company Profile
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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