StockNews.com upgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRN – Free Report) from a hold rating to a buy rating in a research note released on Tuesday.
A number of other analysts also recently weighed in on the stock. Robert W. Baird downgraded shares of BioMarin Pharmaceutical from an outperform rating to a neutral rating and reduced their target price for the stock from $104.00 to $72.00 in a report on Friday, May 17th. Baird R W lowered BioMarin Pharmaceutical from a strong-buy rating to a hold rating in a research note on Friday, May 17th. Citigroup cut their price objective on BioMarin Pharmaceutical from $94.00 to $91.00 and set a neutral rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company lifted their target price on BioMarin Pharmaceutical from $110.00 to $115.00 and gave the stock an overweight rating in a research report on Thursday, June 27th. Finally, Scotiabank upped their price target on shares of BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a sector perform rating in a report on Thursday, April 25th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $102.00.
Check Out Our Latest Report on BioMarin Pharmaceutical
BioMarin Pharmaceutical Trading Up 0.3 %
Insiders Place Their Bets
In other news, EVP George Eric Davis sold 40,850 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $74.51, for a total value of $3,043,733.50. Following the sale, the executive vice president now directly owns 56,157 shares in the company, valued at approximately $4,184,258.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP George Eric Davis sold 40,850 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $74.51, for a total value of $3,043,733.50. Following the sale, the executive vice president now directly owns 56,157 shares in the company, valued at approximately $4,184,258.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jean Jacques Bienaime sold 20,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $81.62, for a total transaction of $1,632,400.00. Following the completion of the sale, the director now owns 474,994 shares in the company, valued at $38,769,010.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,850 shares of company stock worth $5,052,084. 1.85% of the stock is owned by corporate insiders.
Institutional Trading of BioMarin Pharmaceutical
Institutional investors have recently modified their holdings of the company. Innealta Capital LLC bought a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at about $25,000. Quent Capital LLC boosted its stake in BioMarin Pharmaceutical by 58.9% in the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 145 shares in the last quarter. Lindbrook Capital LLC boosted its stake in BioMarin Pharmaceutical by 259.8% in the 4th quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 278 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in BioMarin Pharmaceutical by 135.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 249 shares in the last quarter. Finally, Jones Financial Companies Lllp acquired a new stake in BioMarin Pharmaceutical in the 4th quarter worth approximately $43,000. 98.71% of the stock is currently owned by institutional investors.
BioMarin Pharmaceutical Company Profile
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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