BioMarin Pharmaceutical (NASDAQ:BMRN – Free Report) had its target price upped by Scotiabank from $85.00 to $86.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has a sector perform rating on the biotechnology company’s stock.
Several other analysts also recently commented on the company. Baird R W downgraded BioMarin Pharmaceutical from a strong-buy rating to a hold rating in a research note on Friday, May 17th. Evercore ISI raised their price target on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the stock an outperform rating in a research report on Tuesday. Stifel Nicolaus boosted their price objective on BioMarin Pharmaceutical from $108.00 to $112.00 and gave the company a buy rating in a research report on Tuesday. Wells Fargo & Company upped their price target on shares of BioMarin Pharmaceutical from $110.00 to $115.00 and gave the company an overweight rating in a report on Thursday, June 27th. Finally, Robert W. Baird lowered shares of BioMarin Pharmaceutical from an outperform rating to a neutral rating and dropped their price objective for the stock from $104.00 to $72.00 in a report on Friday, May 17th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $103.63.
Read Our Latest Analysis on BMRN
BioMarin Pharmaceutical Trading Up 1.1 %
Insider Buying and Selling
In related news, EVP George Eric Davis sold 40,850 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $74.51, for a total transaction of $3,043,733.50. Following the completion of the sale, the executive vice president now owns 56,157 shares of the company’s stock, valued at $4,184,258.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 40,850 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $74.51, for a total transaction of $3,043,733.50. Following the completion of the sale, the executive vice president now directly owns 56,157 shares in the company, valued at $4,184,258.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian Mueller sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $75.19, for a total transaction of $375,950.00. Following the sale, the chief financial officer now directly owns 72,159 shares in the company, valued at $5,425,635.21. The disclosure for this sale can be found here. 1.85% of the stock is owned by company insiders.
Institutional Investors Weigh In On BioMarin Pharmaceutical
A number of hedge funds and other institutional investors have recently bought and sold shares of BMRN. Innealta Capital LLC acquired a new stake in BioMarin Pharmaceutical in the second quarter valued at $25,000. BOKF NA acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at about $31,000. Lindbrook Capital LLC raised its position in shares of BioMarin Pharmaceutical by 259.8% during the fourth quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 278 shares during the last quarter. Quent Capital LLC boosted its holdings in BioMarin Pharmaceutical by 58.9% in the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 145 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of BioMarin Pharmaceutical by 135.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 249 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.
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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